NEW YORK, Aug. 2, 2004 (PRIMEZONE) -- Parker & Waichman LLP (http://www.worldcomstockfraud.com/) is reminding current and former MCI WorldCom (Nasdaq:MCIP) shareholders and employees that only 31 days remain to opt-out of the proposed class action settlement. The deadline to opt-out of the class action settlement is September 1, 2004. Current and former shareholders who don't specifically opt-out of the class action settlement will automatically be included in the settlement. Parker & Waichman is offering free case evaluations at http://www.worldcomstockfraud.com.
It is estimated that shareholders lost in excess of $100 billion on MCI WorldCom securities. It is believed that the proposed settlement will provide shareholders with less than 2 cents for every dollar lost. Parker & Waichman believes this proposed settlement does not provide adequate compensation for MCI WorldCom shareholders. Parker & Waichman urges shareholders to determine whether they would be better served by opting out of the proposed settlement.
Current and former WorldCom and MCI shareholders and employees can visit http://www.worldcomstockfraud.com/ and http://www.worldcomclassaction.com/ to view and download the WorldCom class action opt-out form entitled, "Notice of Class Action."
Current and former shareholders who desire to opt-out of the WorldCom class action settlement must mail the opt-out form or required information before the September 1, 2004 opt-out deadline. This will permit them to pursue individual claims against the defendants, including Citigroup. Current and former WorldCom and MCI shareholders who do not specifically opt-out of the proposed class action settlement by filing the required form or information will automatically be included in the proposed settlement.
Parker & Waichman, LLP and affiliated counsel are currently representing hundreds of current and former MCI WorldCom shareholders and employees. 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