The variability of HD 240121 = BD+59 2602 was first suspected by Sarg and Wramdemark (1970) and later confirmed by Grobel R. (1992a,b). Because of the observed anti-phase variations of the B and V light curves, the latter author tentatively suggested an ACV type. Apart from its inclusion in the catalog of New Suspected Variables (NSV 25977), no further investigations of the star have been published. HD 240121 was included into our target list of ACV candidates and investigated in order to determine the reason for the observed brightness variations. All available information on HD 240121 were collected via an exhaustive data mining procedure. Data from Grobel (1992a,b) were re-analysed and photometric observations from the NSVS and Hipparcos archives were procured and investigated. Line-of-sight reddening and stellar parameters were calculated from archival photometric data. HD 240121 is a young, late B-type CP2 star of the silicon subgroup. The observed period, amplitude of light variations and variability pattern (anti-phase variations) are typical of ACV variables. The occurrence of anti-phase variations of the B and V light curves is rarely observed and points to the existence of a null wavelength in the visual spectrum. We therefore strongly encourage further multi-colour photometric observations of this star. (C) 2016 Elsevier B.V. All rights reserved.