NEW YORK, June 25, 2004 (PRIMEZONE) -- Parker & Waichman LLP (www.worldcomstockfraud.com) is encouraging current and former MCI/WorldCom (Pink Sheets:MCIA) investors to request a free claim evaluation at www.worldcomstockfraud.com. Parker & Waichman believes the new MCI/WorldCom class action opt out deadline is imminent. Current and former shareholders have a limited time to evaluate their legal options. Parker & Waichman and affiliated counsel currently represent hundreds of MCI and WorldCom investors who have opted out of the class action.
Parker & Waichman believes that the proposed MCI/WorldCom settlement offer does not provide sufficient compensation. It is estimated that shareholders will receive approximately 1-2 cents on the dollar for their losses. Many current and former MCI/WorldCom shareholders who purchased shares between April 29, 1999 and June 25, 2002 may benefit from opting out of the class action and pursuing individual claims.
Current and former shareholders who desire to opt-out of the proposed settlement must submit the opt-out form and required information before the opt-out deadline. Current and former WorldCom and MCI shareholders who do not specifically opt-out of the class action by filing the required form and information will automatically be included in the proposed settlement.
Although the previous February 20, 2004 opt-out deadline has been extended and no new opt-out deadline has been announced, it is believed that a new deadline announcement is imminent. Parker & Waichman will publish the new opt-out deadline on its websites as soon as it becomes available.
Current and former WorldCom and MCI shareholders can visit www.worldcomstockfraud.com and www.worldcomclassaction.com to view and download the WorldCom class action opt-out form.
For more information on Parker & Waichman, LLP please visit http://www.yourlawyer.com or call 1-800-LAW-INFO. Current and former shareholders are also encouraged to visit http://www.injurytalk.com.