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Intuit, Siebert agree to dismiss lawsuit


Published : Fri, 26 Oct 2007 23:08
By : Agencies
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SAN FRANCISCO (Thomson Financial) - Intuit Inc. and Muriel Siebert & Co. agreed late Friday to dismiss what was originally a $44.4 million lawsuit filed against Intuit by Siebert, Intuit said.

Both parties agreed not to pursue further action or seek any compensation.

According to Intuit, the suit, which alleged breach of contract and other claims, was filed in September 2003 and followed the termination of an alliance between the two companies that facilitated online stock trading, called

Quicken Brokerage powered by Siebert.

Intuit shares fell 13 cents to close the regular session at $31.33.

Gabriel Madway

gm

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Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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