Rocker Partners issued a press release in response to the Overstock litigation. Rocker Partners, L.P., through its attorneys, responded to the lawsuit recently filed in California state court by Overstock.com, Inc., which accuses Rocker of conspiring with Gradient Analytics, Inc., an Arizona-based research firm, and others to depress the price of Overstock.com stock.
"In our opinion, Overstock's lawsuit is patently frivolous and is simply the latest reckless act by Overstock's CEO, Dr. Patrick Byrne," said Lawrence M. Rolnick, a partner in the Roseland, New Jersey office of Lowenstein Sandler PC, a law firm representing Rocker.
Rocker, along with partners David Rocker and Marc Cohodes and affiliates Rocker Management, LLC and Rocker Offshore Management Company, Inc., all of whom have been named as defendants, will defend the lawsuit vigorously. Mr. Rolnick added that his clients plan to bring counterclaims for damages against Overstock.com, co-plaintiff Mary Helburn, and others including Byrne personally, members of Overstock's board of directors, and others who have publicly threatened Rocker and Cohodes, including the individual responsible for Internet postings under the pseudonym Bob O'Brien.
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