In the latest development in the YTB case, a judge has ruled that the two class action suits brought against the company last year will be consolidated.
U.S. District Judge G. Patrick Murphy made the ruling last week after hearing from all involved in the case. As we told you a few weeks ago, Judge Murphy was adamant that the two sides find a way to consolidate the case. Judge Murphy told each of the sides last month that he would not hear two parallel cases simultaneously. “We’re not going to be hearing two cases at one time, the judgw said. It makes a lot of sense to file one complaint.” Lawyers in both cases agreed that consolidation of the two suits was appropriate in the case.
YTB, the internet based travel company is being sued by former independent consultants who claim that the company operates an illegal pyramid sales scheme and utilizes an illegal referral sales technique.
Lawyers from each of the two cases will continue to represent clients in individual suits, but will also agree to work jointly as co-counsel on the main class action suit.
No word yet on when exactly the case will be brought back to court but I am sure the company wants to get this resolved already. With their stock trading at below 50 cents, there doesnt seem to be a lot of good news facing the company.
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