Cohen Milstein Sellers & Toll PLLC Announces Investigation of Universal Travel Group, Inc. (UTA)

Cohen Milstein Sellers & Toll PLLC, is conducting an investigation to determine whether Universal Travel Group, Inc. (“UTA” or the “Company”) and certain of its officers, directors and/or underwriters made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and/or violated Section 11 of the Securities Act of 1933.

Class action lawsuits have been filed in the U.S. District Courts for the District of New Jersey and the Central District of California by other law firms on behalf of all purchasers of the common stock of Universal Travel Group, Inc. (NYSE:UTA) between January 19, 2010 and April 12, 2011, inclusive (the “Class Period”).

UTA provides travel services, including booking services for airplane tickets, hotels, restaurants and packaged tours for customers. The complaints allege that defendants’ Class Period statements about the Company, its business and financial health were materially false and misleading. The Company has been the subject of a number of critical reports, including a report by Glaucus Research Group (“Glaucus”) dated March 8, 2011. Glaucus accused UTA of various misdeeds in that report, including fabricating financial statements and the amount of cash on its balance sheet, having a business model that lacked credibility and overstating its business relationships. Glaucus also noted the high turnover of auditors and Chief Financial Officers with the Company. The Company did not issue any response to Glaucus’ allegations.

On March 15, 2011, the Company issued a press release stating that it would release its fourth quarter and fiscal year 2010 results on March 30. After the market close on March 29, however, UTA announced that it would have to postpone the release of those results until “later in 2011.” UTA shares fell from $5.39 to $4.33 on March 30, representing a decline of approximately 19.6%.

Trading in UTA shares was halted without explanation on April 12, with the shares priced at $3.96. Two days later, the Company filed an 8-K reporting that its newly appointed auditor, Windes & McClaughry Accountancy Corporation (“Windes”), had resigned by letter dated April 10. According to the 8-K, Windes stated that it had “lost confidence” in the Board’s and the Audit Committee’s “commitment to sound corporate governance and reliable financial reporting,” and had also encountered issues “related to the authenticity of confirmations…[with] confirmation procedures carried out under circumstances which Windes believed to be suspicious.”

Trading in UTA shares remains halted at the time of this press release.

In addition to investigating violations of the Securities Exchange Act of 1934, Cohen Milstein is also investigating possible violations of the Securities Act of 1933 related to the Company's Registration Statement and the Prospectus Supplement dated June 16, 2010, pursuant to which a secondary offering of the Company’s stock was offered to investors on or about June 21, 2010 at a price of $7.00 per share.

Cohen Milstein encourages purchasers of UTA stock, including persons or entities that purchased UTA’s common stock pursuant and/or traceable to the Company's secondary offering on or about June 21, 2010, or former employees with information concerning this matter, to contact the firm.

If you are a UTA shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at stoll@cohenmilstein.com. If you purchased the common stock of UTA between January 19, 2010 and April 12, 2011, and wish to serve as lead plaintiff, you must move the Court no later than June 15, 2011 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, and Chicago, and is active in major litigation pending in federal and state courts throughout the nation.

The firm’s reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over a billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:

Steven J. Toll, Esq.Tyler GaffneyCohen Milstein Sellers & Toll PLLC1100 New York Avenue, N.W.West Tower, Suite 500Washington, D.C. 20005Telephone: (888) 240-0775 or (202) 408-4600Email: stoll@cohenmilstein.com; tgaffney@cohenmilstein.com

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