NEW YORK, April 29, 2003 (PRIMEZONE) -- The Law Firm of Klayman & Toskes, P.A. (K&T) today announces the publication of their study on the appropriate path for securities dispute resolution against Wall Street brokerage firms in light of the recent regulatory settlements for $1.4 billion. The study is available at the firm's website, (http://www.nasd-law.com), under "The Process" heading.
The study focuses on the following points:
1. The Emergence of Arbitration as a Means of Securities Dispute
Resolution;
2. Factors Leading to Class Action Litigation;
3. Large Class Action Settlements Tend to Skew Average Recovery
Rates;
4. The Real Statistics for Arbitration Awards;
5. Claims that Fare Best in Arbitration;
6. Consider Using Arbitration When Your Losses Exceed $100,000; and
7. Mediation as an Alternative Path for Dispute Resolution.
Presently, K&T represents numerous investors who have claims against Wall Street brokerage firms before the New York Stock Exchange ("NYSE") and the National Association of Securities Dealers ("NASD") for hundreds of millions of dollars. These investors have suffered large losses in WorldCom, Inc. (Nasdaq:WCOEQ.PK), AT&T (NYSE:T), CMGI, Inc. (Nasdaq:CMGI), and Level 3 Communications, Inc. (Nasdaq:LVLT). Numerous class action lawsuits have been filed on behalf of these investors. These actions are distinct and separate from the claims brought by the clients of K&T. K&T only represents investors in securities arbitrations on an individual basis that have suffered substantial damages. Such claims include high net worth individuals who are not appropriate for class actions.
The sole purpose of this release is in furtherance of our investigation on behalf of our clients who have pending claims filed before the NYSE and the NASD for securities violations including the misuse of margin, the misuse of stock option plans, failure to supervise, unsuitability claims, misrepresentation and material omissions of fact. K&T has offices in California, Florida and New York and represents investors throughout the nation. If you wish to discuss this announcement or have information relevant to our securities arbitration claims, please contact Lawrence L. Klayman, Esquire of Klayman & Toskes, P.A., 888-997-9956 or visit us on the web at http://www.nasd-law.com.