NEW YORK, June 21, 2004 (PRIMEZONE) -- Parker & Waichman LLP (www.worldcomstockfraud.com) is announcing that it expects the deadline to opt out of the MCI/WorldCom (Pink Sheets:MCIA) class action lawsuit will be at the end of July or later. In a hearing last week, Judge Cote of the Federal District Court for the Southern District of New York set forth that there will be another hearing during the first week of July to evaluate the terms and conditions of the proposed class action settlement. Judge Cote indicated that within 10 days of that hearing, a Class Action Notice will be distributed which will include the close of the opt-out period, which will be at least 21-30 days from the date of the Notice.
Parker & Waichman continues to encourage clients of all brokerages who purchased MCI or WorldCom shares between April 29, 1999 and June 25, 2002 to request a free lawsuit case evaluation at: (www.worldcomstockfraud.com). Parker & Waichman continues to believe that the proposed settlement MCI WorldCom offers will not sufficiently compensate victims of WorldCom stock fraud. The firm continues to believe that many current and former MCI WorldCom shareholders may benefit from opting out of the class action to pursue individual claims. Parker & Waichman and affiliated counsel currently represent thousands of current and former MCI shareholders.
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 soon-to-be-announced opt-out deadline. This will permit shareholders to pursue individual claims against the defendants. 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.
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).