SALT LAKE CITY, Jan. 20 /PRNewswire-FirstCall/ -- Overstock.com, Inc. (Nasdaq: OSTK) today announced that the two winners of its December 2009 Family Bailout Sweepstakes are William McDermott of Huntley, Illinois, and Tammy McGhee of Wilmington, North Carolina. McDermott was awarded $25,000 and McGhee was awarded $15,000. Overstock.com will pay the money directly to one or more of their qualified creditors.
McDermott is an 84-year-old widower, hit hard by the economy and medical bills. The $25,000 will help him pay his medical obligations. McGhee has been a paraplegic for 20 years as a result of shooting. She will also use the $15,000 to help pay for her medical care.
"It is great to be able to help Mr. McDermott and Ms. McGhee," said Overstock.com President Jonathan Johnson. "The country continues to experience tough economic times that affect many. We're happy to be in a position to provide needed assistance to a few of our site visitors."
Approximately 250,000 people entered the December sweepstakes. McDermott and McGhee were selected according to contest rules. No purchase was necessary. To enter contestants went to www.overstock.com/familybailout. Shoppers could automatically opt-in when purchasing items through Overstock.com.
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations."
Overstock.com® is a registered trademark of Overstock.com, Inc.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding the amount of qualified payments to creditors and statements about general economic conditions. Our Form 10-K/A for the year ended December 31, 2009, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
SOURCE Overstock.com, Inc.