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CHECKERS DRIVE-IN RESTAURANTS, INC. LITIGATION FILED AGAINST CHECKERS

 CLEARWAWTER, Fla., Oct. 14 /PRNewswire/ -- Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR) today announced that on Oct. 13, 1993, a civil complaint was filed by a stockholder against Checkers Drive-In Restaurants, Inc. (CHECKERS), its directors, certain of its officers and KPMG Peat Marwick, its auditors. The complaint was filed in the United States District Court of the Middle District of Florida, Tampa Division, and alleges, generally, that Checkers issued financial statements which were not prepared in accordance with generally accepted accounting principles and were materially misleading. The allegations are primarily directed toward certain accounting principles followed by Checkers' wholly owned subsidiary, Champion Modular Restaurant Company, Inc., a producer of modular restaurant building packages for use by Checkers and its franchisees. The plaintiff is seeking to have the proceeding certified as a class action.
 James E. Mattei, president and chief executive officer, stated: "It is our belief that Checkers' financial statements have always been prepared in accordance with generally accepted accounting principles and that any claims to the contrary are unfounded and completely without merit." He further stated that the lawsuit would be vigorously defended.
 Checkers develops, produces, owns, operates and franchises quick- service "double drive-thru" restaurants under the trademark of "CHECKERS."
 -0- 10/14/93
 /CONTACT: James F. White, Jr. of Checkers Drive-In Restaurants, 813-441-3500/
 (CHKR)


CO: Checkers Drive-In Restaurants, Inc. ST: Florida IN: LEI SU:

SH-PS -- NY009 -- 2016 10/14/93 08:33 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
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