According to Sone they'll defend themselves vigorously.
What else can they say? We give up!!!
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ATLANTA--(BUSINESS WIRE)--May 9, 2000--S1 Corporation (NASDAQ: SONE), a leading provider of Internet-based financial services solutions, today announced that it intends to vigorously defend itself against recently filed lawsuits. At this point, S1 has not been served with, nor even seen, any of the complaints filed against it. Nonetheless, it is evident from the press releases soliciting additional plaintiffs that these lawsuits simply follow the unfortunate modern-day practice by which law firms try to cash in on any stock price decline by attributing it to contrived fraud theories. However these claims are packaged, S1 and its officials committed no fraud, and they intend to defend themselves vigorously against these meritless lawsuits.
"These types of lawsuits are typically the price you pay for being the high profile industry leader in any market segment," said Dan Drechsel, chief operating officer of S1. "Although the lawsuits are an unfortunate distraction, we will continue to focus our energies on our business and the many opportunities that our Internet-based financial services solutions provide to today's largest and most innovative financial institutions. True to our longstanding history, we will always strive to execute on our business plans that are in the best interests of our shareholders, employees, customers and partners." |
