SOURCE: Tytan Holdings Inc.

October 13, 2010 11:34 ET

Tytan International Inc. ("TYTAN") Today Announced That an Arbitration Date Has Been Set for a Case It Has Against Bogden Inc. and Tractorco.com ("Tractorco")

KALAMA, WA--(Marketwire - October 13, 2010) -  Tytan Holdings, Inc. (PINKSHEETS: TYTN)

Tractorco had purchased tractors and reached a Dealer Agreement to become a certified Tytan Dealer. However, after taking delivery of a few shipments of tractors, it became evident to Tytan that Tractorco made huge misrepresentations and did not have a majority of the qualifications to consummate the Dealer Agreement. After Tytan canceled the Dealer Agreement for misrepresentation, Tractorco sought numerous avenues to defame Tytan. After one year of nonstop negative and slanderous representations, Tytan was forced to ensue in litigation to protect its stock holders. Tytan contends that Mr. Bogden's defamatory remarks are completely without merit and are legally and factually false. After separation occurred, according to Tytan, TractorCo sought through numerous avenues to defame Tytan and interfere with its business relations, and after a year of these negative and untrue representations, Tytan was forced to file suit.

During discovery phase of the litigation, Tytan took the deposition of Mr. Bogden. In the deposition of Mr. Bogden, Tractorco's sole employee, he was asked the following questions and below are his responses:

Question: "But you have, as of the time you posted this information on your website, which is as of today, no engineering data, analysis of any kind, to suggest that there is anything defective in either the design or manufacturer of the steering bracket on the Tytan?"

Bogden's Answer: "No I have not done any analysis."

Mr. Bogden further explains that "I do have a retail showroom, but you need to make an appointment to see it." Mr. Bogden also explained that for any mechanical work, he contracts that out.

Safe Harbor Statement

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

Contact Information

  • Contact:

    Investor Relations
    Shaun Kohlmeier
    (860) 484-3727