Zeev's Turnips Patch-No Politics (ZEEV)

[TexasTech]

Zeev:

Don't know if you are following this naked shorting thing http://ncans.net/ put the following press release sure is a different spin on who is sueing who.

Hedge funds under attack?

Curious.

Good Luck and God Bless,
TT



Press Release Source: Christian Smith & Jewell

John O'Quinn and His Legal Team File Lawsuit Against Gradient Analytics, Inc. and Rocker Partners LLP. on Behalf of Overstock.com, Inc.
Thursday August 11, 4:47 pm ET

HOUSTON, Aug. 11 /PRNewswire/ A civil complaint against Gradient Analytics, Inc., Rocker Partners LP., David Rocker, Marc Cohodes and others for unfair business practices was filed today by John O'Quinn and his legal consortium on behalf of online retailer Overstock.com (Nasdaq: OSTK - News).

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Overstock.com launched its first website through which customers could purchase products in 1999. Its overall business and gross revenues have grown steadily and consistently, at a rate of approximately 100% each year since 2000. Its annual revenues for the year ending December 31, 2004 were approximately $500 million.

The complaint alleges that Gradient Analytics, Inc., an influential company that sells reports and analyses on publicly traded companies to hedge funds, traditional mutual funds, and provides them to financial commentators such as MSNBC, is closely aligned with various stock hedge funds. The complaint alleges that Gradient and Rocker Partners LP, which is owned and controlled by David Rocker and Michael Cohodes, individually and/or through Rocker Offshore or Rocker Management, conspired to denigrate Overstock.com's business so as to reap personal profits for themselves.

Dr. Patrick Byrne, founder and president of Overstock.com, commented: "What's at stake here is innovation and entrepreneurship in America. My company has been attacked and I'm not going to take this lying down. In joining forces with John O'Quinn and his team of lawyers, I think we have what it takes to win. We certainly have what it takes to fight."

Attorney John O'Quinn also commented: "We have an expression in Texas about the skill of matching the mules. Combining our lawyers and a-level experts with the tenacity, verve and commitment of Overstock.com CEO Dr. Patrick Byrne is a powerful alliance, hitched up for the long haul to win this battle. It is time someone stops these offshore hedge funds from taking advantage of average working Americans and American Public companies. That someone is us."

Attorney Adam Voyles added: "I am speaking for the entire consortium when I say that we are prepared to obtain justice for our client from these Defendants and all others who aided them in these illegal acts. It is time our government authorities and regulators pay attention to the large number of offshore hedge funds that are taking advantage of hard working Americans."

In the actions, filed in Marin County California Superior Court, Overstock.com is represented by the law firms of O'Quinn, Laminack & Pirtle, Christian Smith & Jewell, and Heard, Robins, Cloud, Lubel & Greenwood, LLP, all of Houston, Texas, Woodbury & Kessler, PC of Salt Lake City, Utah, the Siegler Law Group, Inc, of Beverly Hills, California and Koerner Silberberg and Weiner, LLP of New York, New York.