MONTPELIER, Vt., Feb. 10, 2025 (GLOBE NEWSWIRE) -- Nano Hearing Aids is pleased to announce the successful resolution of the 2022 lawsuit filed by the State of Vermont related to allegations of consumer protection violations. Vermont’s allegations against Nano were tied to Nano’s prior owner, Charles Crawford, and primarily covered the years before Nano was acquired by its current ownership. This resolution marks a significant milestone in Nano’s evolution, allowing the company to move past its primary regulatory challenges caused by its predecessors and to focus on its mission to provide high-quality, affordable hearing solutions to millions of Americans.

“This settlement represents a turning point for Nano Hearing Aids as we enter a golden age of success,” said Ryan Zackon, Chief Executive Officer of Nano Hearing Aids. “With our regulatory matters behind us, we are more committed than ever to setting the industry benchmark for best practices, innovation, and customer care.”

As noted by the Vermont Attorney General in announcing this settlement, the resolution of the Vermont lawsuit is the culmination of more than two years of unprecedented cooperation and proactive steps taken by Nano’s new owners and executive management.

After acquiring the company in March 2021 and later relieving Crawford of his duties as Chief Executive Officer, Nano’s new management spent more than a year and substantial resources bolstering its product offering and refining its customer service policies and processes. By the end of 2022, Nano was set to be a leader in the market for over-the-counter (OTC) hearing aids and a benchmark for customer service in this new market.

Unfortunately, Nano was blind-sided by the Vermont lawsuit because the existence of the Vermont investigation was deliberately concealed from Nano by Crawford and Nano’s prior counsel, Clark Hill PLC. Nano is currently in litigation against Clark Hill, lodging legal malpractice, negligence, and aiding and abetting claims against the firm and its lead partner, Ryan Lorenz. Nano will pursue this litigation aggressively, seeking to hold the firm accountable for the tens of millions of dollars of damage caused by their intentional concealment of the Vermont investigation and other negligent acts.

Immediately upon learning of the Vermont lawsuit, Nano’s new management authorized its counsel and all executives to work side-by-side with the Vermont Attorney General and others to aggressively address the concerns that led to the lawsuit. Indeed, many of the Vermont Attorney General’s concerns had already been addressed by Nano prior to the filing of the lawsuit and, but for the concealment of Vermont’s investigation, would have been addressed far sooner.

Nano’s new management believes strongly that Nano’s business practices since acquiring the company in March 2021 are not just consistent with consumer protection laws across the country but are among the best—if not the best—in the OTC hearing aid market.

Nano’s agreement to accept a suspended civil penalty simply underscores Nano’s fierce commitment to transparency, compliance, and consumer trust. The agreement also highlights Nano’s willingness and desire to work side-by-side with regulators in this market to ensure that all companies are acting to protect consumers. By addressing and resolving this matter, Nano reaffirms its dedication to upholding the highest standards in the OTC hearing aid industry. As it has for the past two years, Nano’s owners and executive management will continue to cooperate with Vermont and states across the nation root out bad actors in this industry.

Nano Hearing Aids continues to lead the way in making hearing health accessible to all, pioneering advancements in OTC hearing aid technology while maintaining a steadfast commitment to customer satisfaction and regulatory excellence. The company looks forward to further expanding its reach, introducing new products, and reinforcing its reputation as a trusted name in the industry.

About Nano Hearing Aids

Nano Hearing Aids® has been a leader in hearing aid technology for over almost a decade known for its innovative solutions and customer-centric approach. All Nano products are OTC compliant, and FDA registered. With the launch of Audacity®, Nano Hearing Aids® continues to revolutionize the market, delivering products that offer exceptional quality and value.

For media inquiries, please contact:

Meghan Moran, Executive Assistant to the CEO

m.moran@nanohearingaids.com