According to the Madison-St. Clair Record, YTB is being sued once again for breach of contract.
A Canadian consulting company alleges an Illinois travel company, based in Wood River, failed to pay it nearly $150,000 owed for its services. YTB has been the focus of numerous suits over the years including the Attorneys General from California and Illinois. They have had class action suits filed against them which are still working their way through the system and their founders have been forced to step down from the company.
The travel assets of YTB were reportedly sold to Sixth Scott LLC and the new principal has vowed to steer the new company (First Travel Alliance) away from the multi level marketing model, but to date has not done much of anything.
YTB once numbered close to 140,000 independent "travel agents" and now, estimates suggest that number may be under 10,000 as YTB continues to flounder. YTB's stock is hovering around a penny per share and has been at that point for close to six months. At one time, the owner's had promised that the shares would be trading well over $10. YTB has failed to produce the SEC required annual report for 2011 and has not submitted any quarterly reports for 2012.Email ThisBlogThis!Share to TwitterShare to FacebookPosted byJohnat4:13 PM
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