John Murphy has issued a lawsuit against Overstock, an online retailer, over former CEO  Patrick Bryne's sudden exit from the company and then his notorious offloading of shares worth $90 million. The lawsuit is to determine the potential violations of the duty of the directors at Overstock, and the role they played in aiding Bryne's deeds. According to<a href="https://www.google.com/amp/s/www.law360.com/amp/articles/1252550"> Law360</a>, Murphy is looking for records under Section 220 of Delaware General Corporation Law. 
<blockquote>“This action seeks corporate books and records to investigate Byrne’s and the board’s role in what appears to be a scheme to cause a so-called ‘short squeeze,’ resulting in Byrne’s sudden resignation from the company and sale of over $90 million of his stock.”</blockquote>
Peter Bryne decided to draw the curtains on his role as <a href="https://www.cryptoknowmics.com/news/former-overstock-ceo-stills-holds-major-tzero-stake/">CEO of Overstock</a> in August 2019. It came ten days later when he gave a fishy statement regarding his  role in aiding the So-called " deep state " Bryne exclaimed :
<blockquote>“Starting in 2015 I (operating under the belief that I was helping legitimate law enforcement efforts) assisted in what is now known as the ‘Clinton Investigation’ and the ‘Russian Investigation’ (in fact, I am the notorious ‘missing Chapter 1’ of the Russian investigation).</blockquote>
He followed his exit by publishing a filing on September 18, 2019, that he had sold off his stake in Overstock, a 90 percent share which was in totality 13 percent of the stock of the online retailers. 

A while later, Bryne provided an update with his blog stating he is in Indonesia, a country where the US jurisdiction can't intervene cause the United States doesn't have an extradition treaty with the country.  
<h2>Directors of Overstock Has Blood on There Hands Too</h2>
Murphy also claimed that the diabolical deeds of Overstock's ex CEO only happened as the directors assisted the culprit in his illegal action which led to a $90 million fraud, hit the image of the company real hard and led to a stock collapse. 

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Lawsuit filed against Overstock's Former CEO John Murphy 

John Murphy has filed a lawsuit against former CEO of Overstock, Peter Bryne for his sudden exit and cashing out

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Lawsuit filed against Overstock's Former CEO John Murphy

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