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Santa Monica, CA – November 2, 2011Goldline International, Inc. said Wednesday that a complaint filed by the Santa Monica City Attorney’s office is without merit. The company said it will vigorously contest the allegations.
Brian Crumbaker, Goldline’s Executive Vice President, said the complaint filed Tuesday has numerous errors. He noted that a core allegation of the complaint cites the company for “offering Bullion for sale on Goldline’s website with no intention of selling it.”
Crumbaker said, “The so-called bait and switch allegation is preposterous because bullion accounts for more than 40% of the ounces of gold sold by the company during the past year.”
Goldline is one of the leading companies in the United States offering a full range of precious metals products. The company has been in operation for more than 50 years and has been located for more than 20 years in Santa Monica, where the company employs about 400 people.
Crumbaker said, “We believe Goldline has industry best-practices in customer disclosures enabling the most informed decisions.”
Goldline prides itself on having a complaint rate of less than 1/10th of 1 percent of its transactions.
About Goldline International, Inc. Goldline International is one of the largest companies providing physical precious metals to collectors and investors in the United States. Founded in 1960, Goldline is headquartered in Santa Monica, CA with over 400 employees and annual sales exceeding $500 million. In 2011, Goldline was recognized by Inc. Magazine as the 6th fastest growing company among private companies with more than $500 million in annual revenues and The Los Angeles Business Journal as the 28th largest private company in Los Angeles. For more information about the company, visit www.goldline.com.