Departed Overstock.com Inc. /zigman2/quotes/200022359/composite OSTK -0.35% Chief Executive Patrick Byrne disposed of his entire stake in the company - roughly 4.8 million shares, more than 13% of the company - in the past three days, according to a filing with the Securities and Exchange Commission . Byrne sold all but 87,000 shares on the open market for roughly $90 million, with the remainder given as a gift to an undisclosed recipient. Byrne left the company in late August after proclaiming in a corporate news release that he had an affair with a convicted Russian agent and had provided important information to the U.S. Justice Department about Russian involvement in U.S. politics. Overstock shares hit a 52-week high last week, ahead of a planned special dividend planned for next week, but have taken a big hit as Byrne sold, falling 20.8% Monday, 10.9% Tuesday and 8% on Wednesday. Shares fell more than 2% in after-hours trading Wednesday following the filing.
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Patrick Byrne sells his Overstock shares, but blames the SEC and ‘Deep State’