Parker & Waichman announces that it has added the “Notice of Class Action” to the website www.worldcomclassaction.com and www.mciclassaction.com. The “Notice of Class Action” contains the opt-out form necessary for current and former WorldCom (Pink Sheets: WCOEQ – News, MCWEQ – News, MCIAV – News) and MCI shareholders who desire to opt-out of the class action lawsuit that was certified last year by Judge Denise Cote of the Southern District of New York.
Current and former WorldCom and MCI shareholders and employees can visit these sites to view and download the WorldCom class action opt-out form, “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 by February 20, 2004. This will permit them to pursue individual claims against the defendants, including Salomon Smith Barney, now operating as Citigroup Global Markets, a unit of Citigroup, Inc. (NYSE: C – News). 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.
Parker & Waichman and associated counsel are currently representing hundreds of current and former WorldCom and MCI shareholders. Parker & Waichman believes that shareholders who sustained financial losses as a result of their WorldCom securities holdings may be better served by filing an individual claim against the defendants rather than participating in the class action.
The complaints already filed by Parker & Waichman and associated counsel charge Salomon Smith Barney with violations of Section 15(c) of the Securities Exchange Act of 1934, as well as various state statutes, for issuing fraudulent research reports and for violating NYSE Rules 401, 472 and 476(a)(6), and NASD Rules 2110 and 2210, for issuing research reports that were not based on principles of fair dealing and good faith, did not provide a sound basis for evaluating facts, contained exaggerated or unwarranted claims about the covered companies, and/or contained opinions for which there were no reasonable basis.
The misconduct of Salomon Smith Barney was detailed in the settlement announced earlier this year by Securities Regulators and state securities officials.
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