August 12, 2009 (FinancialWire) — iMergent, Inc. (AMEX: IIG) announced that the Office of the Attorney General of the State of Washington and iMergent consented to a Stipulation and Order of Judgment on August 6, 2009 (the Settlement). The Settlement stems from a two year non-public investigation. It resolves outstanding matters with the State of Washington and does not limit the company’s continued operations there.

Under the terms of the Settlement, iMergent expressly denied that it sells a business opportunity or that it had committed any wrongdoing. iMergent agreed to make certain disclosures regarding the software it sells. iMergent also agreed to pay $175,000 to the State of Washington, which included refunds to affected purchasers.

Jeff Korn, iMergent Chief Legal officer, said, “We continue to aggressively work to resolve all legacy complaints which affect iMergent. We believe the substantive improvements we have made to our sales approach has helped resolve this long standing investigation. The disclosures required by the Settlement have already been incorporated into our presentations and solicitations. We are pleased to have resolved this non-public review into our business practices. 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.”

Steven G. Mihaylo, iMergent’s chief executive officer, said, “We are pleased that we have been able to find a resolution to the review of long standing issues in the State of Washington. The changes we have made and are continuing to make have resulted in substantive improvements to our products and the experience of our customers. We continue to improve our StoresOnline product. Our primary focus is, and will always be, to improve shareholder value.”

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