CHECKERS DRIVE-IN RESTAURANTS, INC.
CLEARWATER, Fla., June 2 /PRNewswire/ -- James E. Mattei, president and chief executive officer of Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR) announced that a complaint filed on Dec. 30, 1992, against the company by two franchisees owning an aggregate of eight franchised restaurants in the Orlando, Fla. market area was dismissed today by a Florida judge. The complaint sought declaratory relief permitting the franchisees to combine themselves into a single entity franchisee for the purpose of effecting an initial public offering of stock by the resulting franchisee and allowing the assignment to such new entity of all the franchisees' rights and obligations under their respective franchise and area development agreements with the company. The complaint also sought damages in the amount of $40 million for intentional interference with franchisees' business relations. The judge ruled that the complaint did not state a valid cause of action on any of the claims of the franchisees. The decision by the court reconfirmed the position of the company that the complaint was without merit. The company develops, produces, owns, operates and franchises quick- service "double drive-thru" restaurants under the name "Checkers". -0- 6/2/93 R /CONTACT: Herbert G. Brown of Checkers Drive-In Restaurants, 813-441-3500/ (CHKR)
CO: Checkers Drive-In Restaurants, Inc. ST: Florida IN: LEI SU:
JB-SB -- FL017AX -- 5033 06/03/93 13:38 EDT
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|Date:||Jun 3, 1993|
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