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CHERRY PAYMENT SYSTEMS VINDICATED BY DISTRICT ATTORNEY

 CHERRY PAYMENT SYSTEMS VINDICATED BY DISTRICT ATTORNEY
 CHICAGO, June 12 /PRNewswire/ -- Cherry Payment Systems, Inc. said Thursday that William Foust, Dane County District Attorney (Madison, Wis.), had completely vindicated the company and its management following an intensive investigation into charges that employees had been dismissed for refusing to support a fund-raising event for President George Bush. In part, District Attorney Foust's letter to Cherry Payment Systems' counsel said, "This office has conducted a thorough and detailed investigation of Mr. Neiss' claim and, during the course of that investigation, has come to learn of much evidence that contradicts Mr. Neiss." (Complete copy of District Attorney Foust's letter are available for faxing.)
 "The district attorney's office has found absolutely no substance to the various allegations regarding actions by the company, its owner, James R. Elliott, and other Cherry Payment executives, after a very complete investigation. We are delighted that the matter is now closed, and that the allegations have been proven to be empty and sensationalized charges without merit," said T. Alan Boyd, chief executive officer of Cherry Payment Systems, Inc.
 The investigation was begun after an employee filed a lawsuit against the company claiming he had been dismissed because he refused to support a fund-raiser for President Bush at the urging of Cherry Payment Systems' founder, James R. Elliott, and other Cherry Payment Systems executives.
 The lawsuit attracted national publicity.
 "This suit raised serious and totally unfounded questions about the integrity and credibility of Cherry Payment and some key executives, particularly James Elliott. It also set off a national wave of publicity that impacted our reputation as a corporate citizen. These issues now have been resoundingly settled in our favor," said T. Alan Boyd.
 "We would like to thank our more than 4,000 employees and our thousands of customers for their continued support during this period," said Boyd.
 "Now that the matter has been completely investigated and Cherry Payment Systems totally vindicated, we can return to focusing full time on our growing business and serving our customers."
 Cherry Payment Systems is a marketing services company focused on serving entrepreneurs -- small and medium-sized merchants -- by providing them with diversified credit card and check processing services.
 -0- 6/11/92
 /CONTACT: Carol Hyland of Cherry Payment Systems, 708-719-9991, or Jonathan Dedmon of the Dilenschneider Group, 312-553-0700, for Cherry Payment Systems/ CO: Cherry Payment Systems, Inc. ST: Illinois IN: FIN SU:


KD-SM -- NY001 -- 9527 06/12/92 08:32 EDT
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Publication:PR Newswire
Date:Jun 12, 1992
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