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From The Collaborative International Dictionary of English v.0.48:
Overreach \O`ver*reach"\ ([=o]`v[~e]r*r[=e]ch"), v. t. [imp. & p. p. Overreached, (Overraught, obs.); p. pr. & vb. n. Overreaching.] [1913 Webster] 1. To reach above or beyond in any direction. [1913 Webster] 2. To deceive, or get the better of, by artifice or cunning; to outwit; to cheat. --Shak. [1913 Webster] 3. To defeat one's own purpose by trying to do too much or by trying too hard or with excessive eagerness; -- used reflexively; as, the candidate overreached himself by trying to plant false rumors, which backfired/ [PJC]