Overstock.com Inc Chief Executive Officer Patrick Byrne, lashing out at sharehol...
showing he had sold 500,000 shares on Monday and Tuesday. That sent Overstock shares plunging more than 20% over two days, closing on Thursday at its lowest level since October 2012.
“Frankly, I had no idea that shareholders would demand explanations of why and how I might want to use my cash derived from my labor and my property to pursue my ends in life,” Byrne wrote, italicizing the word “my” each time. “I simply had to supplement my nominal salary with stock sales in order to fulfill personal commitments to invest personally in blockchain projects such as Medici Land Governance, along with a need to meet charitable pledges such as those outlined above,” Byrne wrote.
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