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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: TLindt who wrote (3353)	3/4/1999 4:53:00 PM
From: Rob C.	Read Replies (2) \| Respond to of 20297

Filing a Complaint Against CheckFree on March 3, 1999 ATLANTA, March 4 /PRNewswire/ -- The following statement was issued today by CheckFree Corporation: CheckFree Corporation (Nasdaq: CKFR) is issuing this statement in light of what the Company believes to be a market over-reaction to, and misinterpretation of, the news that Intuit (Nasdaq: INTU) has filed a complaint "seeking damages and injunctive relief against CheckFree." While it is CheckFree's corporate policy to not comment publicly on matters under litigation, and we have a confidentiality commitment to our partner Intuit, we must also consider our fiduciary responsibilities to investors. In this situation, we have determined that the interest of the investing public takes precedence, and for that reason there are a number of facts that we must publicly state. They are as follows: (1) The contract with a high-traffic Internet aggregation site that CheckFree announced in its January 26, 1999 press release is not affected by this action, and is not at risk. Intuit is supportive of this relationship, and will support the public announcement of it as soon as our partner is ready to do so. (2) Regardless of the outcome of this action, CheckFree will be supporting bill presentment and payment through Internet portals, and will be fairly compensated for its efforts. (3) There is nothing in Intuit's complaint against CheckFree that seeks to restrict CheckFree from continuing its success in signing electronic billing and payment contracts with billers. Finally, CheckFree would like to note that Intuit has authorized us to communicate that Intuit agrees with the issuance of this statement, and agrees with the facts presented. SOURCE CheckFree Corporation -0- 03/04/99 /CONTACT: Media and Investment Relations, Terrie O'Hanlon, Senior Vice President, Corporateand Investor Communications of CheckFree Corporation, 770-840-1452, or email: tohanlon@checkfree.com / /Web site: checkfree.com / (CKFR INTU) CO: CheckFree Corporation; Intuit Corporation ST: Georgia IN: CPR MLM FIN SU: LAW CON RB -- ATTH018 -- 9217 03/04/99 16:21 EST prnewswire.com //Begin Meta Data// Selector Code: g...c Copyright 1999, PR Newswire