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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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DATE OF REPORT: MAY 24, 1999
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CHECKFREE HOLDINGS CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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Delaware 0-26802 58-2360335
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(STATE OR OTHER (COMMISSION FILE NO.) (IRS EMPLOYER
JURISDICTION OF IDENTIFICATION NUMBER)
INCORPORATION OR
ORGANIZATION)
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4411 East Jones Bridge Road
Norcross, Georgia 30092
(678) 375-3387
(ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER
INCLUDING AREA CODE OF REGISTRANT'S
PRINCIPAL EXECUTIVE OFFICES)
----------------------------
Not Applicable
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 5. OTHER EVENTS
On May 24, 1999, CheckFree Holdings Corporation, a Delaware corporation
("CheckFree"), and Intuit Inc. ("Intuit") announced that they have reached an
amicable resolution of the issues that led to Intuit's lawsuit filed in March
1999 and the subsequent arbitration proceedings. The specific terms of the
settlement were not disclosed.
CheckFree's press release issued May 24, 1999 regarding the Settlement
Agreement is attached as an exhibit to this report and is incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit No. Description
99 Press release of CheckFree Holdings
Corporation issued May 24, 1999, regarding
the Settlement Agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHECKFREE HOLDINGS CORPORATION
Date: May 24, 1999 By: /s/ Allen L. Shulman
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Allen L. Shulman, Executive
Vice President, Chief Financial
Officer and General Counsel
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description
<S> <C>
99 Press release of CheckFree Holdings Corporation issued
May 24, 1999, regarding the Settlement Agreement.
</TABLE>
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Exhibit 99
CheckFree Media Relations: Intuit Media Relations:
Laurinda Wilson Holly Anderson
(678) 375-1608 (650) 596-2207
[email protected] [email protected]
CheckFree Investor Relations: Intuit Investor Relations:
Terrie O'Hanlon Linda Fellows
(678) 375-1452 (650) 944-5436
[email protected] [email protected]
CHECKFREE AND INTUIT REACH SETTLEMENT
ATLANTA (May 24, 1999) - CheckFree Holdings Corporation (NASDAQ:CKFR) and Intuit
Inc. (NASDAQ:INTU) today announced they have amicably resolved the issues that
had led to the filing of a lawsuit last March, and to subsequent arbitration.
Other than noting that neither party makes any payment for the settlement, the
specific terms of the agreement were not disclosed.
In commenting on the resolution, Pete Kight, Chairman and CEO of CheckFree
said, "We have enjoyed a long and close relationship with Intuit, but we had an
honest disagreement about how to apply our contract in a rapidly-changing
environment. I'm very pleased that we were able to find a solution that allows
our two companies to match our collective and respective strengths to address
the full spectrum of the market's approach to electronic billing and payment."
Bill Harris, President and CEO of Intuit said, "We are pleased to be back on
track in our relationship with CheckFree in a manner that benefits both
companies. We look forward to our continued relationship and renewed dedication
to meeting customer needs."
ABOUT INTUIT
Intuit Inc. (NASDAQ: INTU), a financial software and Web-based services
company, develops and markets Quicken, the leading personal finance software;
TurboTax, the best-selling tax preparation software; and QuickBooks, the most
popular small business accounting software. Intuit's Quicken.com Web site
(www.quicken.com) is a leading financial Web site, offering a comprehensive set
of financial news, information and tools, including insurance, mortgage,
investment and tax preparation services. Intuit's products and services enable
individuals, small businesses and financial professionals to better manage
their financial lives and businesses.
-more-
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ABOUT CHECKFREE
Founded in 1981, CheckFree (www.checkfree.com), the operating subsidiary of
CheckFree Holdings Corporation, is the leading provider of financial electronic
commerce services, software and related products. CheckFree designs, develops
and markets services that enable nearly three million consumers to receive and
pay bills over the Internet or electronically through a variety of bill
aggregation points, including banks, brokerage firms, portals and interactive
content sites on the Internet, and personal financial management (PFM) software.
CheckFree's range of services and products are focused on enabling customers to
make electronic payments and collections, automate paper-based recurring
financial transactions and conduct secure Internet transactions. After more than
a year of beta testing, CheckFree launched the nation's first fully integrated
electronic billing and payment solution, CheckFree E-Bill, in March of 1997.
Today, the Company has multi-year contracts with nearly 50 of the nation's top
billers to provide online billing and payment through the CheckFree distribution
network.
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