Your Baby Can Read company going out of business The company featured in an investigative report by NBC's Jeff Rossen is now defunct, after Rossen showed experts at Harvard, Tufts, and NYU saying the company's product was not only "misleading" parents, but potentially harmful to babies. By NBCNews.com staff and wires 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. Regretfully, the cost of fighting recent legal issues has left us with no option but to cease business operations. While we vehemently deny any wrongdoing, and strongly believe in our products, the fight has drained our resources to the point where we can no longer continue operating," the notice said. 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.