19 August 2008

YTB Tells SEC It Will Defend Against CA Charges

Travel Agent Central
In a statement to the Securities and Exchange Commission (SEC), YTB acknowledged the recent action by the California State Attorney General and said it will "vigorously defend" itself. "The complaint alleges that the defendants violated California’s unfair competition and advertising laws" YTB said. "The company believes it has operated in full compliance with California law and intends to vigorously defend the case."

Scott Tomer, CEO of the Company, stated "we are disappointed that the state has decided to take this action. We firmly believe that the facts in this matter support our position and our legal counsel has advised us that our position is strong."

On August 4, 2008, a civil action was filed against three subsidiaries of YTB International, Inc. and certain executive officers of the company in the Superior Court of California, County of Los Angeles, by the California Attorney General.

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