MCI WorldCom Request For Extension With U.S. Bankruptcy Court. Parker & Waichman announces that shares of MCI WorldCom (WCOEQ, MCWEQ & MCIAV) trading under the symbols (Other OTC:WCOEQ.PK – News) and (Other OTC:MCWEQ.PK – News) will likely be cancelled before April 30, 2004. The anticipated delay in the cancellation of these shares is a result of MCI WorldCom filing a request with the U.S. Bankruptcy Court for a 60 day extension. MCI WorldCom’s previous deadline to emerge from bankruptcy was February 28, 2004. When MCI WorldCom emerges from bankruptcy it is likely that the shares of WCOEQ and MCWEQ will be cancelled and new shares of the company will be issued, leaving existing shareholders with stock of little or no value. These “new” shares are currently trading on a “when issued” basis under the symbol MCIAV. MCI WorldCom shareholders can request a free lawsuit case evaluation.
Parker & Waichman is currently representing over 2,000 current and former MCI and WorldCom shareholders. These retained clients consist of Salomon Smith Barney clients who purchased shares of WorldCom or MCI securities, current and former WorldCom or MCI employees and clients of any brokerage firm that lost at least $300,000 on WorldCom or MCI securities. Many of these clients qualified as members of the WorldCom class action lawsuit but have decided to opt-out of that lawsuit to pursue individual claims. Parker & Waichman continues to offer free lawsuit case evaluations.
Parker & Waichman continues to believe that many current and former WorldCom and MCI shareholders may be better served by opting-out of the WorldCom class action lawsuit to pursue individual claims. 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, “Notice of Class Action.” 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.