US Report: Lawsuit filed against Intuit charges Y2K issue

A group of consumers has filed a lawsuit against Intuit maker of popular financial software Quicken, over Year 2000 complaints.
Written by Margaret Kane, Contributor

Intuit has stated that Quicken Versions 5 and 6 are not able to handle online banking transactions for dates after December 31, 1999. The complaint argues that consumers weren't told about the problems when they bought the products, and that Intuit hasn't offered a fix for the software.

The suit seeks damages as well as injunctive relief compelling Intuit to fix the problems.

Intuit officials could not be reached for comment. "You have a major software company selling a product that it knew or certainly should have known would be rendered obsolete well before the end of its useful life," Jeffrey Klafter, a partner at Bernstein Litowitz Berger & Grossman LLP, said in a release. That firm filed the suit in New York State Supreme Court.

Intuit's Year 2000 Frequently Asked Questions page states that Quicken 6 as well as the current version, Quicken 98, can handle dates up to 2027 within the program, but Quicken 6 does not support future dates for online banking.

A free update is available for Quicken 98. The company said an update will be available for Quicken 6 by the end of the second quarter of 1999. For consumers who don't want to wait that long, the company offers two alternatives: Get an update from your bank, or buy the newer version.

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