WorldCom holders go after Citigroup

WorldCom holders go after Citigroup

Attorney says Florida firms preparing claims against Smith Barney for stock losses.
August 16, 2003: 4:48 PM EDT

TAMPA, Florida (Reuters) - Florida law firms are preparing to file arbitration claims against Citigroup Inc. and its Smith Barney unit for hundreds of shareholders who lost money in the WorldCom Inc. bankruptcy, an attorney told former employees of WorldCom and its MCI unit Saturday.

Citigroup and Smith Barney defrauded shareholders of WorldCom, which now calls itself MCI, and should repay all their losses, attorney David Ennis told former workers for the merged companies at a meeting in Tampa.

"If you owned WorldCom stock in a Smith Barney account, you were defrauded," Ennis said. "We're here today to try to get your money back."

More: http://money.cnn.com/2003/08/16/news/companies/telecoms_worldcom.reut/index.htm