NEW YORK, Nov. 5, 2002 (PRIMEZONE) -- The Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com), representing numerous Salomon Smith Barney, Inc. ("Smith Barney") customers, in securities arbitration lawsuits continues to investigate and pursue claims on its clients' behalf against the brokerage house, a unit of Citigroup, Inc. The law Firm is preparing to file additional claims before the New York Stock Exchange on behalf of Level 3 Communications, Inc. (Nasdaq:LVLT) shareholders against Smith Barney for alleged unlawful conduct at its Omaha, Nebraska branch office.
Numerous class action lawsuits have been filed against Smith Barney. These actions are distinct and separate from the arbitration claims that have been filed by K&T. The sole purpose of this release is to investigate, on behalf of our clients, sales practice violations at Smith Barney. The firm is investigating securities violations including the misuse of margin, the misuse of stock option plans, failure to supervise, unsuitability claims, misrepresentation and material omissions of fact, and excessive trading/churning of customers' accounts. We would greatly appreciate any information concerning the method or process used by Smith Barney with regard to the handling of their clients' accounts.
Klayman & Toskes, P.A. 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 lawsuits, 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.