INVESTOR NOTICE: MURRAY, FRANK & SAILER LLP HAS FILED A SHAREHOLDER CLASS ACTION AGAINST CHECKFREE CORPORATION-CKFR
New York, NY April 16, 2007 - Murray, Frank & Sailer LLP has filed a class action on behalf of shareholders who purchased or otherwise acquired the securities of CheckFree Corporation (“CheckFree” the “Company”) (Nasdaq: CKFR) between April 4, 2006 to August 1, 2006, inclusive, (the "Class Period").
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The Complaint charges defendants with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. The Complaint alleges that during the Class Period, defendants misled investors by issuing false and misleading statements about CheckFree's operations and financial condition and as a result, the price of CheckFree securities was artificially inflated during the Class Period.
According to the Complaint, on April 4, 2006, an analyst indicated that CheckFree projected a 25% annual transaction growth for the foreseeable future, which led to an 8% increase in the price of CheckFree stock by the end of that day. Throughout the Class Period, defendants continued to make false and misleading statements about CheckFree's Electronic Commerce and Payment Services businesses in press releases, analyst reports and conference calls. The truth began to emerge in an August 1, 2006, conference call when CheckFree admitted that its financial results for the quarter ended June 30, 2006, were lower than previously expected. After the market learned of the disappointing results, shares of CheckFree plunged $5.93, or 13%, the next day on a volume of 17.3 million shares, the highest daily volume in the more than 10 years that the Company has been publicly traded.
If you are a member of the class, you may, no later than June 11, 2007, move to be appointed as a Lead Plaintiff. A Lead Plaintiff is a representative, chosen by the Court, who acts on behalf of other class members in directing the litigation.
Murray, Frank & Sailer LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than fifteen years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States . You may visit our website at www.murrayfrank.com. If you would like to discuss this action, this announcement, or your rights and interests, please contact plaintiff’s counsel Bradley P. Dyer of Murray, Frank & Sailer LLP.
Murray, Frank & Sailer LLP
Bradley P. Dyer
Fax: (212) 682-1892
Email: [email protected]