iMergent Reaches Settlement with the State of Wisconsin

OREM, Utah - iMergent, Inc., a leading provider of eCommerce software for small businesses and entrepreneurs, announced the Office of the Attorney General of the State of Wisconsin and iMergent consented to a Stipulation and Order of Judgment which was entered on May 16. The Settlement resolves outstanding matters with the State and does not affect continued operations in Wisconsin.

Under the terms of the agreement, the company expressly denied any wrongdoing or that it had made any misrepresentations and agreed to make certain disclosures regarding the software sold by the Company and the services provided by the Company. There were no refunds required; however, iMergent agreed to pay costs of $50,000 to the State of Wisconsin.

Jeff Korn, iMergent general counsel, said, “We continue to aggressively work with regulators to address outstanding issues. All of the complaints reviewed in these actions are legacy issues prior to our adopting the StoresOnline Express business model and the substantive improvements to our customer service. The disclosures required by the settlement have already been incorporated in our presentations and solicitations. We were pleased to resolve this non-public review into our business practices. We would like to thank the office of the Attorney General for working with us. Our ongoing discussions have assisted us in making improvements to our presentation and services. We continue to stand ready to satisfy any legitimate customer or regulatory concern, and strive to deliver transparency to regulators, shareholders and, most importantly, our customers.”

Don Danks, CEO, stated, “From inception, we have applied continuous improvements to our sales and customer service practices. As such, we attempt to address all complaints and implement improvements expeditiously. We continue to receive awards for customer support including the Excellence in Service Operations certification by the Service & Support Professionals Association (SSPA) announced in January, which is an indication of our excellent practices, support and service.”

Before the stock market opened today, the company filed an SEC Form 8-K.