Intuit Inc. (NASDAQ: INTU) today announced that a lawsuit that was filed against the company on April 29, 1998, in the Santa Clara Superior Court in California has been dismissed. The lawsuit, Alan Issokson v. Intuit Inc., was filed in regard to the Year 2000 readiness of the online banking functionality of Intuit's Quicken versions 5 and 6 for Windows and versions 6 and 7 for Macintosh. It was dismissed by the Court on August 27 because no damages were alleged.
"This is significant because it confirms that no Intuit customers have been hurt," said Allison Hubbard Colgin, senior corporate counsel at Intuit. "Intuit has a strong and long-standing commitment to meeting the needs of our customers, including Year 2000 readiness. We have been working-and continue to work-to ensure that all our Quicken online banking customers have software equipped to handle the Year 2000."
Intuit said that it is working to have five other similar Year 2000 suits dismissed, all of which were filed after the Issokson suit. "None of the lawsuits have merit and we will continue to defend vigorously against them," said Colgin.
Intuit's internal legal counsel has worked with Fenwick & West, a Palo Alto, California-based law firm, to defend against the litigation.
