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Overstock.com Sued for Making up MSRPs

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Attorneys in California have filed a 33-page lawsuit against Overstock.com for "routinely and systematically" making untrue claims about the original retail prices of their products. According to CNN: "The lawsuit cites an example where Overstock allegedly advertised a patio set for $449.99 and claimed that the "List Price" for the set was $999. But the furniture arrived with a Wal-Mart sticker showing the price to be $247. The complaint accuses Overstock of often making up "list prices" and "compare at prices." "In our opinion, this conduct constitutes untrue or misleading advertising, and legal action is necessary to protect our consumers from such practices," District Attorney Dolores A. Carr. said in a statement." Hear that, online flash sites? You can get in serious trouble for making up MSRPs. [CNN]