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Microcap & Penny Stocks : HITSGALORE.COM (HITT)

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To: zonkie who wrote (2072)	6/16/1999 2:31:00 PM
From: Janice Shell	Read Replies (3) of 7056

RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--June 16, 1999-- Hitsgalore.com, Inc. (OTC BB:HITT) today stated that the recent class action lawsuits filed against the Company in the United States District Court for the Central District of California are ''without merit'' and appear to be based upon certain ''false and misleading'' statements contained in a May 11th Bloomberg article written by David Evans, entitled ''Hitsgalore.com Omitted Founder's Link to Fraud in SEC Filing.'' ''We are aware of three lawsuits filed against Hitsgalore.com in the past few weeks that allege violations of the federal securities laws and that request class action treatment, '' says Steve Bradford, CEO of the Company. ''Although we believe that these lawsuits are entirely without merit, we wouldn't be surprised if there were others similarly based on the misinformation contained in Mr. Evans' story, '' Mr. Bradford said. So then why are they suing us and not Bloomberg, eh? I'd really like an answer to this one, though I can guess what it is.

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