O.co (aka Overstock.com) Announces March 5, 2012 Date for Trial of Manipulation Claims Against Goldman Sachs and Bank of America Subsidiary Merrill Lynch

SALT LAKE CITY, Oct. 24, 2011 /PRNewswire/ -- O.co (also known as Overstock.com, Inc., NASDAQ: OSTK), today announced March 5, 2012 as the newly set trial date for its case against Goldman Sachs and Bank of America subsidiary, Merrill Lynch. The new date was moved from December 5, 2011. To learn more visit www.overstock.com/50257/static.html

The San Francisco action, filed in February 2007, alleged the prime broker defendants engaged in manipulation by "naked short selling" and failing to deliver shares they sold all designed to drive down O.co's share price to the benefit of themselves and their hedge fund clients. In December 2010, O.co filed a motion to amend to include claims under New Jersey's Racketeer Influenced and Corrupt Organizations (RICO) Act but that motion was denied.

"We believe that Goldman and Merrill manipulated the price of our shares," said O.co Chairman and CEO Dr. Patrick Byrne. "As we expect to show in this case, their illegal actions were designed to, and did, make them billions of dollars."

"We will have our day in court," said O.co President Jonathan Johnson. "Our core manipulation case is solidly established, and we move forward confident in our belief that a jury will hold these defendants to account for the harm they caused."

Byrne continued: "In April 2006, I wrote a letter to the Wall Street Journal stating, 'I do believe blackguards have practiced "failure to deliver" (FTD) for profit, while incidentally destroying businesses and (probably) destabilizing our capital markets. I also think that if this nation ever grasps how its savings have been looted through this mechanism, a few million Americans are going to show up at the corner of Wall and Broad with pitchforks and nooses.' (See http://online.wsj.com/article/SB114558723216732121.html.) That, unfortunately, has come true. Wall Street's unfettered greed has gutted the financial markets and, with Occupy Wall Street movements growing across the country, people are ready to see the corrupt organizations of Wall Street brought to justice. I anxiously await watching Goldman Sachs and Merrill Lynch rationalizing their nefarious schemes to a jury box with 12 Americans in it."

About O.co (also known as Overstock.com) O.co, also known as Overstock.com, is Your Savings Engine offering brand-name products. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. O.co, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com and http://www.o.co. O.co regularly posts information about the company and other related matters on its website under the heading "Investor Relations."

Overstock.com® is a registered trademark of Overstock.com, Inc. O.co™ and Your Savings Engine™ are trademarks of Overstock.com, Inc., Inc. All other trademarks are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including the date of trial, quality of evidence in the case and the relative prospects for outcome at trial. Our Form 10-K for the year ended December 31, 2010, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.

SOURCE Overstock.com, Inc.