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Financial News
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Press Release Source: Klayman & Toskes, P.A.
WorldCom Investor With Over $11.1 Million In Losses To Opt Out of Class Action To Pursue Securities Arbitration Claim, Announces Law Firm Of Klayman & Toskes, P.A.
Wednesday January 7, 6:01 pm ET
NEW YORK, Jan. 7 /PRNewswire/ -- The Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com) is pursuing an individual securities arbitration claim seeking more than $11.1 million in damages against a major Wall Street brokerage firm on behalf of a high net worth investor who held a concentrated, margined position in WordCom (OTC Pink Sheets: WCOEQ MCWEQ MCIAV) stock. Because of the significant losses, the investor will opt out of the class action federal lawsuit pending in the Southern District of New York (Case # 02 Civ. 3288 DLC). The deadline for opting out of the class action is February 20, 2004, leaving investors only 44 days to make a decision.
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The brokerage firms named in the class action include: Salomon Smith Barney, Inc. n/k/a Citigroup Global Markets Inc.; JP Morgan Chase & Co.; Banc of America Securities LLC; Deutsche Bank Securities Inc. f/k/a Deutsche Bank Alex Brown Inc.; Chase Securities Inc. n/k/a J.P. Morgan Securities, Inc., Lehman Brothers, Inc., Blaylock & Partners, L.P.; Credit Suisse First Boston Corp., n/k/a Credit Suisse First Boston LLC; Goldman, Sachs & Co.; UBS Warburg LLC ; ABN AMRO, Inc.; Utendahl Capital Partners L.P.; Tokyo-Mitsubishi International plc; Westdeutsche Landesbank Girozentrale n/k/a WestLB AG; BNP Paribas Securities Corp.; Caboto Holding SIM S.p.A; Fleet Securities, Inc.; and Mizuho International plc.
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Xetra (EUR) Hamburg (EUR) Frankfurt (EUR) Berlin-Bremen (EUR) Nasdaq NM (USD) 13:40 09.01.
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Financial News
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Press Release Source: Page Perry, LLC; Maddox Hargett & Caruso, P.C.
Institutional Investors Urged to Consider Options on WorldCom Legal Claims Before Feb. 20, 2004 Court Deadline
Friday January 9, 8:01 am ET
ATLANTA, and INDIANAPOLIS, Jan. 9 /PRNewswire/ -- The legal team of Page Perry, LLC and Maddox Hargett & Caruso, P.C. and associated counsel are advising institutional investor clients who currently hold or formerly held WorldCom and MCI shares (OTC: WCOEQ.PK - News, MCWEQ.PK - News, MCIAV.PK - News) to carefully consider whether they should opt out of a class action lawsuit pending in New York federal court.
The Court requires WorldCom and MCI shareholders covered by the class action (Case 02 Civ. 3288 DLC, Southern District of New York) to return opt-out forms by February 20, 2004 if they intend to pursue individual claims against the defendants, including Salomon Smith Barney, now operating as the Citigroup, Inc. (NYSE: C - News) unit Citigroup Global Markets, and other investment banks.
Collectively, Page Perry, LLC, Maddox Hargett & Caruso, P.C., and associated counsel represent investors with tens of millions of dollars in WorldCom holdings. Mr. Page and Mr. Maddox are both past presidents of the Public Investors Arbitration Bar Association. Mr. Maddox is currently the chairman of the NASD's subcommittee on analyst litigation. Mr. Page also serves on that committee. Each of their law firms has obtained securities verdicts or settlements in excess of $100 million.
The law firms are offering to consult with institutional WorldCom investors and/or their legal counsel regarding their options.
According to J. Boyd Page, Esq., of Page Perry, LLC, "Former and current WorldCom and MCI shareholders should carefully consider their options. In our opinion, certain institutional investors may be better served by pursuing individual claims and opting out of the class action."
Adds Mark E. Maddox, Esq., of Maddox Hargett & Caruso, P.C., "With time running out, it's important that investors consult with legal counsel. For many institutional investors, this is a multi-million dollar decision."
Based in Atlanta, Page Perry, LLC concentrates its national practice on the trial, arbitration and mediation of complex securities litigation and arbitration matters. Maddox Hargett & Caruso, P.C. has one of the largest national practices representing investors. The firm maintains offices in New York, Chicago and Indianapolis. For more information on Page Perry, LLC and Maddox Hargett & Caruso, P.C., please see: http://www.pagelawllc.com/ or http://www.investorprotection.com/.
Contacts:
J. Boyd Page, Esq.
Page Perry, LLC
Atlanta
Phone (770) 673-0047
Fax (770) 673-0120
Mark E. Maddox, Esq.
Thomas A. Hargett, Esq.
Maddox Hargett & Caruso, P.C.
Indianapolis, New York and Chicago
Toll-free (800) 505-5515
Fax (317) 598-2050
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Source: Page Perry, LLC; Maddox Hargett & Caruso, P.C.
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