NEW YORK, Sept. 9, 2005 (PRIMEZONE) -- Attorney Christopher Gray of the Law Office of Christopher J. Gray, P.C. (newcases@cjgraylaw.com) in New York City wishes to inform investors who purchased AT&T Wireless Tracking Stock between April 26, 2000 and May 1, 2000, inclusive, that the deadline to opt out of the class action is October 6, 2005. A copy of the full Notice of Pendency of the class action, which has been approved by the Court, is available at http://www.gilardi.com/pdf/awes1not.pdf .
The AT&T Wireless class action lawsuit, In re AT&T Wireless Tracking Stock Securities Litigation, is pending in the U.S. District Court for the Southern District of New York (500 Pearl Street, New York, New York), Docket No. 00-CV-8754 (MGC) and is assigned to the Hon. Miriam Goldman Cedarbaum, U.S. District Judge. The Class Action Complaint alleges that the defendants, AT&T Corp. (NYSE:T) and C. Michael Armstrong, violated the federal securities laws by failing to disclose certain material adverse trends in AT&T's business in the Prospectus for the AT&T Wireless Tracking Stock initial public offering. Motions by these defendants to dismiss the class action claims have been denied by a federal court.
The class action lawsuit seeks to recover investors' losses resulting from defendants' alleged misrepresentations and omissions concerning AT&T Corp.'s business in the Prospectus.
Investors who bought AT&T Wireless Tracking Stock during the period April 26, 2000 through May 1, 2000 have until October 6, 2005 to opt out of the class action by sending written notice to:
AT&T Wireless Securities Litigation c/o Gilardi & Co. P.O. Box. 808061 Petaluma, CA 94975-8061.
The written request for exclusion must include the investor's full name and address and be signed by the investor who wishes to opt out.
Investors are not required to participate in the class action, and have a right to opt out of the class action and file their own lawsuits if they wish. Investors who opt out of the class action will not share in any recovery that might be paid by the defendants as the result of a favorable judgment or settlement in the class action.
Investors who do not opt out of the class action will be bound by any judgment (and any portion thereof) in the class action, regardless of whether the judgment is favorable to the class. Investors who wish to remain members of the class need do nothing at the present time. Investors who incurred losses in connection with the purchase of AT&T Wireless stock may participate in the class action or file their own case regardless of whether they sold their AT&T Wireless stock at any time.
The Law Office of Christopher J. Gray, P.C.'s practice is concentrated in complex litigation, class action litigation, and securities arbitration. Investors with questions about their rights may contact Attorney Christopher Gray at the e-mail address, address, fax number, or telephone number below.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca