Former WorldCom and MCI Shareholders Legal Options. The Judge presiding over the WorldCom class action lawsuit has recently issued a February 20, 2004 deadline for current and former MCI and WorldCom (Other OTC:WCOEQ.PK – News) (Other OTC:MCWEQ.PK – News) (Pink Sheets:MCIAV) shareholders to opt out of the WorldCom shareholder class action. Parker & Waichman and associated counsel believe that shareholders that have been financially harmed as a result of their WorldCom and MCI investments may benefit from filing an individual claim against the defendants rather than participating in the class action lawsuit. Current and former shareholders can learn more about the class action lawsuit and request a free lawsuit case evaluation by visiting http://www.worldcomstockfraud.com.
Parker & Waichman is encouraging current and former shareholders to explore their legal options before the February 20, 2004 deadline. Current and former WorldCom and MCI shareholders who do not specifically opt out of the class action are automatically included in the class action.
Parker & Waichman and associated counsel are currently representing hundreds of current and former WorldCom and MCI shareholders and employees. 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. To learn more about Salomon Smith Barney’s involvement in this case, please visit http://www.smithbarneyfraud.com