Santa Cruz County District Attorney Bob Lee announced ON THURSDAY, THAT internet retailer Overstock.COM has been found liable for false advertising and unlawful business practices. the court found that Overstock had falsely used advertised reference prices (ARP). ARP’s are the prices that Overstock displayed as the “list price” or “compare at” price for products which Overstock advertised for sale on their website. The Court found a number of instances where Overstock’s use of ARP’s was false and/or misleading including a California consumer who bought a patio set for $449 that had a list price of $999. When the consumer received the set it had a $247 price sticker on it from Wal-Mart. The Court also found Overstock liable for NEARLY 7 MILLION DOLLARS in civil penalties.
