NEW YORK -- The company that persuaded hundreds of thousands of parents to buy Your Baby Can Read products is going out of business, citing the high cost of fighting complaints alleging its ads were false.
The company announced its decision in a notice on its website.
The notice denies any wrongdoing, but says the legal fight has drained company resources to the point where continued operations are impossible
A complaint against the company was filed with the Federal Trade Commission in April 2011 by the Boston-based Campaign for a Commercial-Free Childhood, which has led numerous campaigns against what critics call the "genius baby" industry. The advocacy group said Your Baby Can Read's claims of teaching infants to read were false and deceptive, and asked the FTC to halt the ads.
