Overstock.com is among the scores of companies that received subpoenas and/or information requests from the U.S. Securities and Exchange Commission.
The online retailer revealed in an SEC filing on Thursday that it had received an information request from the SEC’s enforcement division last month.
The SEC’s focus is on Overstock’s $250 million tZero ICO. Overstock is seeking to issue 2.3 million tokens through the offering.
Here’s an excerpt from Overstock’s SEC filing:
In February 2018, the Division of Enforcement of the SEC informed the Company that it is conducting an investigation in the matter Re: Overstock.com, Inc. (NY-9777) and requested that the Company voluntarily provide certain documents related to the Offering and the Tokens in connection with its investigation. The Company is in the process of responding to this document request and will cooperate with the SEC in connection with its investigation.
Caught up in the fray
The disclosure from Overstock marks one of the first companies to announce being on the receiving end of one of the most aggressive crack downs the crypto space has seen from the SEC.