NEW YORK, July 21, 2004 (PRIMEZONE) -- Federal District Court Judge Denise Cote of the Southern District of New York has ordered current and former shareholders who are affected by the class-action lawsuit be notified of the details of the class action settlement, beginning no later than August 2, 2004, and has set a September 1, 2004 deadline for current and former MCI and WorldCom (Nasdaq:MCIP) shareholders who wish to "opt-out" of the MCI/WorldCom shareholder class action settlement to file the opt-out forms. Current and former shareholders must opt-out by September 1, 2004 if they desire to pursue individual claims against the defendants including Salomon Smith Barney, now operating as Citigroup Global Markets a unit of Citigroup, Inc. (NYSE:C).
Parker & Waichman has established a website www.worldcomstockfraud.com to assist current and former shareholders in obtaining a free evaluation.
Parker & Waichman believes that the settlement agreement does not fairly compensate victims of MCI/WorldCom stock fraud and strongly encourages current and former shareholders who purchased or acquired shares between April 29, 1999 and June 25, 2002 to explore their legal options before the opt-out deadline expires.
Current and former WorldCom and MCI shareholders who do not specifically "opt out" of the class action are automatically included in the Class Action Settlement.
Parker & Waichman and associated counsel are currently representing hundreds of current and former WorldCom and MCI shareholders. Parker & Waichman believes that shareholders who sustained financial losses as a result of their WorldCom and MCI securities holdings may be better served by pursuing individual claims rather than participating in the class action settlement.
For more information on Parker & Waichman, LLP please visit www.yourlawyer.com or call 1-800-LAW-INFO. Current and former shareholders are also encouraged to visit www.injurytalk.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.