NEW YORK, July 27, 2005 (PRIMEZONE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com), representing numerous aggrieved investors throughout the nation, advises all Citigroup Global Markets, Inc. (NYSE:C), f/k/a Salomon Smith Barney, customers who are eligible to participate in the Global Research Analyst Distribution Fund (SEC v. Citigroup Global Markets, Inc., f/k/a Salomon Smith Barney, No. 03 Civ. 2945) to explore all their legal options before submitting a claim prior to the July 29, 2005 deadline. According to K&T, investors should strongly consider pursuing an individual securities arbitration claim as a means to recovering their financial losses.
According to the distribution fund, eligible recipients include those investors who suffered net losses as a result of their purchase of one of the following stocks through Citigroup Global Markets, Inc., during the relevant time period:
1. Adelphia Business Solutions Inc. May 14, 2001-Aug. 13, 2001
2. AT&T Corp. (NYSE:T) Nov 29, 1999-Jan. 25, 2000
3. Level 3 Communications Inc.
(Nasdaq:LVLT) Apr 18, 2001-Jun 18, 2001
4. Metromedia Fiber Networks, Inc. Apr 30, 2001-Jul 25, 2001
Now known as AboveNet Inc.
(Pink Sheets:ABVT)
5. RCN Corp. (Nasdaq:RCNI) May 3, 2001-Aug 2, 2001
6. Williams Communications Group Inc. May 1, 2001-Nov 1, 2001
However, K&T would like to remind those eligible shareholders who invested through Citigroup Global Markets, Inc. that despite market capitalization losses in excess of $1 billion, the distribution fund has only allocated $157.5 million to investors who purchased the above mentioned stocks through Citigroup Global Markets, Inc. Thus, according to K&T, investors who suffered large and substantial losses may achieve an overall higher recovery rate by proceeding with an individual dispute resolution process, known as an arbitration claim, rather than solely depending on a recovery from the distribution fund.
Accordingly, K&T plans on assisting those high net worth investors who prefer not to participate in and/or investors who are ineligible to recover from the Global Research Analyst Distribution Fund by continuing to pursue individual securities arbitration claims before the National Association of Securities Dealers and the New York Stock Exchange. Additionally, since the Global Research Analyst Settlement Distribution Fund Plan is not the exclusive remedy for injured investors, K&T also strongly encourages all eligible fund recipients, including those who have completed a Certification Form and claimed eligibility, to call Lawrence L. Klayman at 888-997-9956 to discuss your legal options and/or the possibility of also pursuing an individual securities arbitration claim as well.
K&T, a nationally known securities arbitration law firm, represents individual high net worth investors throughout the country. If you wish to discuss this announcement or have information relevant to our securities arbitration claims, please contact Lawrence L. Klayman at 1-888-997-9956 or visit us on the web at http://www.nasd-law.com.