Content deleted Content added
m Reverted edit by 24.191.39.143 (talk) to last version by Faolin42 |
|||
| (11 intermediate revisions by 5 users not shown) | |||
Line 42:
====Campaign against naked shorting and analysts====
In a conference call with analysts in August 2005, Byrne said that "there's been a plan since we were in our teens to destroy our stock, drive it down to $6–$10 ... and even a plan for how the company would then get whacked up." He said that the conspirators were part of a "Miscreants Ball," headed by a "Sith Lord," whom he identified only as "he's one of the master criminals from the 1980s." (but identified in an interview two weeks later as
In 2005, Overstock.com sued hedge fund [[David Rocker|Rocker Partners]] and the [[Securities research|equities research]] firm Gradient Analytics (formerly Camelback Research Alliance) in California, alleging they illegally colluded in short-selling the company while paying for negative reports to drive down share prices.<ref>{{cite web|url=http://appellatecases.courtinfo.ca.gov/search/case/mainCaseScreen.cfm?dist=1&doc_id=65285&div=4&doc_no=A113397|title=California Courts - Appellate Court Case Information|website=Appellatecases.courtinfo.ca.gov|access-date=17 August 2018}}</ref> Gradient countersued Overstock for libel.<ref>{{cite news|url=https://www.reuters.com/article/marketsNews/idUSN1544393520080415|title=UPDATE 2-US research firm countersues Web retailer Overstock|website=[[Reuters]] |date=15 April 2008|access-date=17 August 2018}}</ref> A portion of this suit was settled out of court in 2008; Overstock and Gradient dropped their claims against each other after Gradient retracted allegations that Overstock's reporting methods did not comply with rules established by the [[Financial Accounting Standards Board|FASB]], stated they believed Overstock.com complied with [[Generally Accepted Accounting Principles|GAAP]] standards, and that three directors were independent, and apologized.<ref name=reut1008>{{Cite news|title=Overstock says settled claims against Gradient |url=https://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSN1346384320081013 |work=[[Reuters]] |date=2008-10-13 |access-date=2008-10-17 | first=Alexandria | last=Sage}}</ref><ref name=slct1008>{{Cite web|url=http://www.sltrib.com/business/ci_10713775|title=Overstock.com settles suit with research firm|first=Paul|last=Beebe|work=[[The Salt Lake Tribune]]|date=2008-10-13|access-date=2008-10-17|url-status=dead|archive-url=https://web.archive.org/web/20081017114726/http://www.sltrib.com/business/ci_10713775|archive-date=2008-10-17}}</ref> In December 2009, the suit against Rocker, whose name had since been changed to Copper River Partners, was settled by Copper River paying $5 million.<ref name='Reuters-settle'>{{Cite news| title=Overstock says it settles with hedge fund | date=2008-12-08 |url =https://www.reuters.com/article/idCNN0821943720091208?rpc=44 | website=[[Reuters]] | access-date = 2009-12-09 }}</ref>
Line 64:
While throughout Byrne's tenure at Overstock investors opposed Byrne's leadership style, he did not experience an [[activist shareholder]] campaign and maintained that his departure was voluntary, rather than forced by the corporation's board.<ref name=Debter/>
Byrne sold some of his Overstock stock over the course of 2019, but remained the company's largest shareholder in the immediate aftermath of his resignation, with a 14% stake.<ref name=Debter/> One month after
After Butina's release from prison, she became involved in Russian national politics. Byrne continued to send her financial gifts, which in 2021 led members of the Russian political opposition to object to her running for political office based on her "foreign financial backing". The "gifts" were investigated in the US by the ''Business Insider'', and Byrne admitted to them, when her candidacy with [[Vladimir Putin]]'s party [[United Russia]] became public.<ref>{{Cite web|last=Shoaib|first=Alia|title=Patrick Byrne, the pro-Trump former Overstock CEO admits funneling cash to his ex-lover Maria Butina, the glamorous spy expected to be elected to Russia's parliament|url=https://www.businessinsider.com/pro-trump-former-overstock-ceo-gave-russian-spy-ex-lover-money-2021-9|access-date=2021-09-24|website=Business Insider|language=en-US}}</ref>
Line 106:
In 2022, [[PBS]] reported that Byrne had been informed that several of the persons he promoted as stating that Trump was defrauded were lying, but that he chose to promote their words anyways. He also told a reporter from PBS that he "could live with" potentially "destroying the country", referring to the United States.<ref>{{cite news |url=https://www.pbs.org/newshour/show/how-powerful-conservatives-pushed-the-big-lie-that-the-2020-election-was-fraudulent |publisher=PBS |title=How powerful conservatives pushed the 'Big Lie' that the 2020 election was fraudulent |date=April 26, 2022 }}</ref> During the 2022 Midterm Elections, Byrne was a major donor to candidates that ran on the premise that the 2020 election was not legitimate.<ref>{{cite web | url=https://www.brennancenter.org/our-work/research-reports/big-donors-working-overturn-2020-election-are-backing-election-denial | title=Big Donors Working to Overturn the 2020 Election Are Backing Election Denial Candidates in 2022 | Brennan Center for Justice | date=November 2022 }}</ref> Following the election, he again financed efforts by candidates to overturn their lost election bids, including [[Kari Lake]].<ref>{{cite web |url=https://www.12news.com/article/news/politics/lake-lawsuit-could-extend-beyond-hobbs-swearing-in/75-3791c7c0-4b31-4fa6-b221-93dd65fb0e83 |date=December 13, 2022 |publisher=NBC 12 News |title=Kari Lake's legal challenge to Katie Hobbs' victory could drag on beyond Hobbs' swearing-in as governor |author=Brahm Resnik}}</ref>
In June 2024, tax filing documents which were recovered by [[Issue One]] revealed that Byrne and [[Michael Flynn]]'s non-profit group American Project made money off of conspiracy theories.<ref name=americaprojectrevenue>{{cite news|url=https://issueone.org/press/new-tax-filing-details-how-election-deniers-profit-from-group-founded-by-conspiracy-theorists-patrick-byrne-and-michael-flynn/|title=New tax filing details how election deniers profit from group founded by conspiracy theorists|first=Cory|last=Combs|publisher=Issue One|date=June 24, 2024|accessdate=June 26, 2024}}</ref> In 2022, Byrne himself collected a salary of $95,000 from America Project, and the organization itself was able to pay a real estate linked to Byrne $192,000.<ref name=americaprojectrevenue /> This money revenue was made in spite of the fact that Byrne previously told the [[January 6 Committee]] that he did not make money from The American Project.<ref name=americaprojectrevenue /> Other people involved with the organization had been paid large salaries as well,<ref name=americaprojectrevenue /> In 2024, Byrne threatened to torture law enforcement involved in his law suits with "piano wire and a blowtorch".<ref>{{cite web |url=https://lawandcrime.com/lawsuit/expressly-prohibited-judge-in-dominion-suit-has-abundantly-clear-message-for-kraken-lawyer-and-ex-overstock-ceo-on-tina-peters-trial/ |publisher=Law & Crime |title=‘Expressly prohibited’: Judge in Dominion suit has ‘abundantly clear’ message for ‘Kraken’ lawyer and ex-Overstock CEO on Tina Peters trial |author=MATT NAHAM |date=July 30, 2024}}</ref><ref>{{cite news |url=https://www.washingtonpost.com/politics/2024/07/26/patrick-byrne-tina-peters-threats/ |publisher=Washington Post |title=Trump ally who denies 2020 election results threatens law enforcement |author=Patrick Marley |date=July 26, 2024}}</ref> That year he also admitted to hacking the government computers of [[Venezuela]] used in their elections, confirming reports from the country that he had been involved in what was described by Byrne as criminal activity against the regime, which he stated included "at least one act of war".<ref>{{cite web |url=https://www.mediamatters.org/voter-fraud-and-suppression/election-denier-patrick-byrne-claims-hes-conducted-illegal-activity |publisher=Media Matters |title=Election denier Patrick Byrne claims he's conducted “illegal activity ... hacking the government of Venezuela” |date=July 29, 2024}}</ref> A report revealed that in 2024, his fundraising efforts including providing financing for far right political groups in the United States.<ref>{{cite web |title=Pro-Trump Millionaire Patrick Byrne Has Been Funding Far-Right Groups That Promote Conspiracy Theories: Report |url=https://www.benzinga.com/markets/equities/24/07/39871955/pro-trump-millionaire-patrick-byrne-has-been-funding-far-right-groups-that-promote-conspiracy-th |publisher=Benzinga |author=Nabaparna Bhattacharya |date=July 20, 2024}}</ref>
===Anti-vaccination beliefs===
Line 144:
[[Category:Beijing Normal University alumni]]
[[Category:People associated with Bitcoin]]
[[Category:Protesters in or near the January 6 United States Capitol attack]]
| |||