CheckFree, Intuit settle legal battle
By Tim Clark
Staff Writer, CNET News.com
May 24, 1999, 9:30 a.m. PT
CheckFree and Intuit have settled their contract dispute over which firm has the right to negotiate with Internet portal sites to use CheckFree's online billing and payment system.
Intuit, which owns 20 percent of CheckFree, filed the suit in March over CheckFree's negotiation with an unnamed Web portal. Intuit contended their contract required CheckFree to include Intuit in any negotiations with portals that want to present utility, credit card, and other bills so visitors could pay them.
Terms of the settlement were not disclosed, although the companies said no payments were involved.
"We had an honest disagreement about how to apply our contract in a rapidly-changing environment," CheckFree chief executive Pete Kight said in a statement.
Added Bill Harris, Intuit's chief executive, in the same statement: "We are pleased to be back on track in our relationship with CheckFree in a manner that benefits both companies." |
