NEW YORK, May 21, 2004 (PRIMEZONE) -- Parker & Waichman (www.worldcomstockfraud.com) believes that the new MCI WorldCom (Pink Sheets:WCOEQ), (Other OTC:MCWEQ), (Other OTC:MCIA) class action opt-out date will be announced within in the next 10 days. As a result, Parker & Waichman is encouraging all current and former MCI WorldCom shareholders and employees to evaluate their legal options before agreeing to participate in the recently announced MCI WorldCom class action settlement offer. Parker & Waichman believes that the proposed settlement does not sufficiently compensate victims of WorldCom stock fraud. The firm continues to believe that many current and former MCI WorldCom shareholders and employees may benefit from opting out of the class action to pursue individual claims. Parker & Waichman, LLP and affiliated counsel have filed thousands of claims on behalf of current and former MCI WorldCom shareholders and employees and will continue to offer free lawsuit case evaluations at www.worldcomstockfraud.com .
Current and former shareholders who desire to opt-out of the WorldCom class action lawsuit must mail the opt-out form or required information before the opt-out deadline. This will permit them to pursue individual claims against the defendants, including Salomon Smith Barney. 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.
The previous February 20, 2004 opt-out deadline has been extended but no new opt-out deadline has been announced. It is believed that a new opt out period will be announced in the near future. 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 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".
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.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca