Intuit, CheckFree go to arbitration
By Tim Clark
Staff Writer, CNET News.com
April 28, 1999, 1:05 p.m. PT
Intuit and CheckFree will let an arbitrator decide the outcome of their legal dispute over who can make deals with Web portals as part of their partnership in the online billing business.
The decision comes amid speculation that Yahoo will buy CheckFree, a bill-payment service that is 20 percent owned by Intuit.
As first reported by CNET News.com in March, CheckFree had negotiated independently to strike a still-unannounced deal with Yahoo to provide billing services to the portal, drawing a warning from Intuit.
In its complaint, Intuit contends that its contract with CheckFree requires that Intuit participate in any negotiations with portals. Intuit contends that, despite its previous warning, CheckFree negotiated with another, unidentified portal.
"The lawsuit has been submitted to arbitration, and we expect it to be resolved expeditiously," said CheckFree spokeswoman Laurinda Wilson.
CheckFree's deal with Yahoo has churned the rumor mill among Wall Street analysts. Private comments by Yahoo chief executive Tim Koogle at this week's Hambrecht & Quist investor conference ignited speculation that Yahoo may be interested in buying CheckFree outright. |
