Many MCI WorldCom Shareholders Not Aware that WCOEQ and MCWEQ Shares are Likely to Be Cancelled, Announces Parker & Waichman
WCOEQ and MCWEQ Shareholders Should Evaluate Legal Options Before February 20, 2004 Class Action Opt-Out DeadlineJan 9, 2004 | PRNewswire
Parker & Waichman (www.worldcomstockfraud.com) is encouraging WorldCom and MCI (OTC Pink Sheets: WCOEQ - News, MCWEQ - News, MCIAV - News) shareholders to evaluate their legal options before the February 20, 2004 class action opt-out deadline. It is likely that MCI WorldCom shares traded under the ticker symbols WCOEQ and MCWEQ will be cancelled when MCI WorldCom emerges from bankruptcy, meaning that these shares will be virtually worthless. Parker & Waichman is providing free WorldCom/MCI case evaluations to current and former WorldCom/MCI shareholders. Shareholders can submit an evaluation request at www.worldcomstockfraud.com.
Parker & Waichman is making this announcement in light of recently announced developments from WorldCom/MCI which have sent shares of WCOEQ and MCWEQ significantly higher this week. Parker & Waichman has received thousands of inquiries from shareholders who were unaware that these shares would likely be cancelled and believed they would recover when WorldCom emerged from bankruptcy. Shares of WCOEQ have risen from just over $.01 to $.05 recently. MCI shares traded under the ticker symbol MCIAV are being traded over-the-counter on a when-issued basis, meaning these will be shares of the restructured MCI post bankruptcy.
Parker & Waichman and associated counsel is currently representing thousands of current and former WorldCom/MCI shareholders and employees who have opted out of the class action lawsuit that was certified last year by Judge Denise Cote in the Southern District of New York. Parker & Waichman's team has filed claims against Salomon Smith Barney, now operating as Citigroup Global Markets, a unit of Citigroup, Inc. (NYSE: C - News), on behalf of MCI WorldCom investors. These individuals have been financially injured by the fraudulent and inappropriate advice of Salomon Smith Barney. Former Salomon Smith Barney analyst Jack Grubman is also named in the claims.
Current and former WorldCom and MCI shareholders and employees can visit www.worldcomstockfraud.com and www.worldcomclassaction.com to view and download the WorldCom class action opt-out form entitled, "Notice of Class Action." Parker & Waichman encourages shareholders to request a free case evaluation before deciding to opt-out of the class action. Parker & Waichman is providing free case evaluations to all current and former WorldCom and MCI shareholders and employees. Parker & Waichman believes many shareholders may benefit from opting out of the class action to pursue individual claims.
Current and former shareholders who desire to opt-out of the WorldCom class action lawsuit must mail the opt-out form or required information no later than February 20, 2004. This will permit them to pursue individual claims against the defendants, including Salomon Smith Barney. Parker & Waichman is encouraging current and former shareholders to explore their legal options before the opt-out deadline expires. Current and former WorldCom and MCI shareholders who do not specifically "opt-out" of the class action by filing the required form or information are automatically included in the class action lawsuit.
If You Desire To Opt-Out Of The WorldCom Class Action Lawsuit, You MUST Act By Filing The Opt-Out Form Or Required Information No Later Than February 20, 2004 Or You Will Be Automatically Included In The Class Action.
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