CheckFree Corporation announced that it has reached a settlement of the lawsuit it had filed January 25, 2001 against CheckSpace, Inc. for infringement and dilution of its trademarks. Under the terms of the settlement, CheckSpace agrees to immediately begin the process of changing its name to one that is not confusingly similar to that of CheckFree, and to complete the process no later than by August 12, 2001. Allen L. Shulman, CheckFree executive vice president and general counsel said, “We are very pleased with the outcome, and glad that once the matter was appropriately brought to their attention CheckSpace recognized the value to both companies of avoiding the potential for confusion.”
! CheckFree (NASDAQ: CKFR) is the leading provider of financial electronic commerce services and products. Founded in 1981 and celebrating its 20th year in e-commerce, CheckFree launched the first fully integrated electronic billing and payment solution in 1997. Today, CheckFree enables 4.8 million consumers to receive and pay bills electronically. The company has multi-year contracts with 245 of the nation’s top billers to provide online billing and payment through nearly 300 financial services organizations, including banks, brokerage firms, Internet portals and content sites and personal financial management (PFM) software. CheckFree Software Services division provides solutions that are used to process more than two-thirds of the nation’s six billion Automated Clearing House payments, and reconciliation and compliance products and services to 400 banks and businesses. This division includes CheckFree i-Solutions, the leading provider of interactive e-billing and e-statement software and services that enable companies to transform bills and statements into interactive conduits for customer relationship management, marketing and customer self service. CheckFree Investment Services provides a broad range of investment management services to thousands of financial institutions nationwide. The division’s clients manage more than 1,000,000 portfolios totaling more than $500 billion in assets. For more information visit [www.checkfree.com].