Commissioner Lindeen and ACN Announce Favorable Resolution

csimt 2009, Press Release, Securities

HELENA, Mont. – Today, the Montana Commissioner of Securities and Insurance and ACN, Inc., a direct seller of telecommunications services, announced their resolution of an action alleging that the company was operating in violation of the Montana Securities Act.

Earlier this year, the Commissioner’s Office filed an action alleging that the company was in violation of the code that regulates multi-level distribution companies in Montana. In the course of the Commissioner’s Office’s investigation, the Commissioner determined that the actions giving rise to the Commissioner’s concerns were not part of the ACN business model, but were taking place by ACN’s independent representatives working in Montana.

In a joint effort to protect Montana citizens, the Commissioner and ACN have agreed that ACN will implement additional training with its independent representatives, to assist them in better understanding their responsibilities as ACN independent representatives. ACN will also contact its Montana video phone customers to assist them with installation of their service and continued technical assistance.

Both the Commissioner and ACN are pleased with this positive outcome, and the Commissioner’s efforts to protect Montana residents.