Overstock.com CEO Patrick Byrne is actually quite pleased to be receiving this particular summons, as it appears to signal movement from the SEC on Byrne's allegations that forensic accounting firm Gradient Analytics and hedge fund Rocker Partners had manipulating his company's stock price through short-selling. Details, from Marketwatch:

Overstock.com gets SEC subpoena

By Gabriel Madway
MarketWatch
May 10, 2006

Overstock.com Inc. said late Tuesday it received a wide-ranging subpoena from the Securities and Exchange Commission that seeks documents related to its accounting policies, communications with analysts and trading of the company's stock.

The subpoena also requests information relating to the online retailer's complaint against research firm Gradient Analytics Inc., Salt Lake City-based Overstock.com The company has sued Gradient and short-selling hedge fund Rocker Partners LP, claiming that they conspired to push down its share price...

More here. And for a bit of history if you're late to this particular party, click here.

-- MDT

Labels: Gradient Analytics, Patrick Byrne