Former MCI/WorldCom Shareholders Have Until September 1, 2004 to Protect Their Legal Rights and File Individual Claims; Parker & Waichman Continues to Offer Free Case Evaluations at www.worldcomstockfraud.com -MCIP
Former Shareholders Who Do Not Specifically Opt-Out of Class Action Will Automatically Be Included in the Settlement That Pays Less Than $.02 for Every Dollar LostAug 12, 2004 | PRIMEZONE
Parker & Waichman LLP (http://www.worldcomstockfraud.com/), continues to encourage former MCI/WorldCom (NasdaqNM:MCIP - News) shareholders to evaluate their legal options. Parker & Waichman continues to offer free evaluations at http://www.worldcomstockfraud.com/input.php to former shareholders who suffered losses by investing in MCI/WorldCom that traded under the symbols WCOM, MCIC, MCIT, WCOMEQ, and MCWEQ.
The deadline to opt-out of the class action settlement is September 1, 2004. Current and former shareholders who do not specifically opt-out of the class action settlement will automatically be included in the settlement. Shares of MCI/WorldCom securities that traded before the company emerged from bankruptcy are now worthless. These shares were not converted into shares of MCI that are currently trading under the symbol MCIP.
Current and former WorldCom and MCI shareholders and employees can visit: (http://www.worldcomstockfraud.com/) and (http://www.worldcomclassaction.com/) to view and download the WorldCom class action opt-out form entitled, ``Notice of Class Action.''
It is estimated that shareholders lost in excess of $100 billion on MCI/WorldCom securities. It is believed that the proposed settlement will only pay these shareholders less than 2 cents for every dollar lost. Parker & Waichman believes this settlement does not provide adequate compensation for these shareholders and urges them to evaluate whether they would be better served by opting out of the settlement.
Current and former shareholders who desire to opt-out of the MCI/WorldCom class action lawsuit must mail the opt-out form or required information before the September 1, 2004 opt-out deadline. This will permit them to pursue individual claims against the defendants, including Citigroup.
Parker & Waichman, LLP and affiliated counsel are currently representing hundreds of current and former MCI/WorldCom shareholders and employees. For more information on Parker & Waichman, LLP please visit: (http://www.yourlawyer.com/) or call 1-800-YOURLAWYER. Current and former shareholders are also encouraged to visit: (http://www.injurytalk.com/).
Parker & Waichman, LLP
1-800-YOURLAWYER (1-800-968-7529) (toll-free)