CheckFree's Kight Gets Cash After Rise inShare Price

July 05, 2006, 1:00 a.m. EDT 1 Min Read

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ATLANTA - (07/03/06) -- CheckFree founder and CEO PeterKight took advantage of a run-up in the company's shares last monthwith the sale of a large chunk of shares. Kight, the company'slargest shareholder, sold 383,000 CheckFree shares on June 14 andJune 15 for $17.6 million, or an average of $46 a share. Sincehitting a high of $50.08 on April 20, CheckFree shares havecratered, losing almost 20% of their value, before reboundingrecently to close at $50 on July 3. Kight is still the largestindividual shareholder in CheckFree with ownership of 4.7 millionshares, or 5.1%.

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