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To: Paul Engel who wrote (83564)	6/16/1999 4:00:00 AM
From: Amy J	Read Replies (2) \| Respond to of 186894

OT From Yahoo News: biz.yahoo.com Hitsgalore.com, Inc. Named in Shareholder Class Action Suit Filed by the Pomerantz Firm NEW YORK, June 14 /PRNewswire/ -- Pomerantz Haudek Block Grossman & Gross LLP (http://www.pomlaw.com) filed a class action lawsuit in United States District Court for the Central District of California, Western Division, against Hitsgalore.com, Inc. (OTC Bulletin Board: HITT - news; the ''Company''), for securities fraud on behalf of all investors who acquired the Company's common stock during the period February 17, 1999 through and including May 27, 1999(the ''Class Period''). The Complaint alleges that Hitsgalore and certain of its officers and directors violated Sections 10(b) and/or 20(a) of the Securities Exchange Act of 1934 as well as Rule 10b-5 promulgated thereunder by engaging in a scheme to defraud investors by disseminating false and misleading information about the Company's management and business condition. This false and misleading information served to artificially inflate the price of the Company's securities throughout the Class Period. On May 11, 1999 it was disclosed that the Company's founder, Dorian Reed, along with two other individuals, had been ordered by a federal judge to pay $613,110 to 100 customers for ''false claims made by Internet Business Broadcasting, a failed online advertising company they worked for.'' This disclosure caused the market price of Hitsgalore.com to plummet over 50 percent in a single day. Subsequently, the Company has announced that Dorian Reed served 10 months in a federal prison for wire fraud in 1992. In addition, it has been discovered that the Company's head of investor relations, Frank Pinizzito, also has a history of investor fraud. All told, the full disclosure of the Company's fraud has caused the stock to lose a staggering 75 percent from its pre-revelation price. Plaintiff seeks to recover damages on behalf of the Class, and is represented by Pomerantz Haudek Block Grossman & Gross LLP, one of the nation's preeminent specialists in corporate, securities, ERISA and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz firm pioneered the field of securities class action litigation. Today, over 50 years later, the Pomerantz firm continues the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate mismanagement. In doing so, the Firm has been responsible for numerous multimillion dollar recoveries on behalf of class members. If you are a member of the Class described above, you may, if you so choose, file a motion with the District Court, no later than July 13, 1999, requesting to serve as lead plaintiff in the action. To serve as lead plaintiff, however, you must meet certain legal requirements established under the Private Securities Reform Act of 1995. If you have any questions concerning this litigation, please contact Mildred C. Frazzitta, Esq. or Julian P. Carr of Pomerantz Haudek Block Grossman & Gross LLP toll-free at 888-476-6529 or via e-mail at mcfrazzitta@pomlaw.com. Those who inquire by e-mail are encouraged to include their mailing address and phone number.