To: Henry Volquardsen who wrote (777 ) 5/12/1999 3:57:00 PM From: wonk Read Replies (1) | Respond to of 7056
From RB: Weiss & Yourman Retained to Pursue Class Action Claims May 12, 1999 03:33 PM LOS ANGELES--(BUSINESS WIRE)--May 12, 1999--The following was released today by Weiss & Yourman: Weiss & Yourman today announced that it has been retained by shareholders of Hitsgalore.com Inc. HITT to investigate and pursue class action claims on behalf of investors who purchased or otherwise acquired their shares of Hitsgalore securities between February 17, 1999 to May 11, 1999 and suffered damages thereby. This retention arises out of yesterday's disclosure that the company knew and failed to disclose that its founder, Dorian Reed, along with two other individuals, had been ordered to pay over $600,000 to 100 customers for "false claims made by Internet Business Broadcasting, a failed online advertising company they worked for." As a result of this disclosure, the company's stock price, which had recently skyrocketed from $1.88 a share to a high of $20.69, tumbled yesterday to $9.38 a share, for a loss of over 50% of its value in one day. If you are a member of the class described above and wish to discuss this matter, have any questions concerning your rights or interests with respect to this matter, or have any information regarding these recent events which you believe would be helpful in prosecuting this matter, please contact Weiss & Yourman: LOS ANGELES: 800/437-7918 or 310/208-2800 or via e-mail at wyinfo@wyca.com or by writing Weiss & Yourman, 10940 Wilshire Blvd., 24th Floor, Los Angeles, CA 90024, or NEW YORK: 888/593-4771 or 212/682-3025 or via e-mail at wynyc@aol.com or by writing Weiss & Yourman, The French Building, 551 Fifth Avenue, Suite 1600, New York City 10176. Weiss & Yourman is a law firm possessing significant experience and expertise in prosecuting class actions on behalf of defrauded shareholders in federal and state courts throughout the United States. Weiss & Yourman has been appointed by numerous courts to serve as lead counsel in class action lawsuits and has recovered hundreds of millions of dollars on behalf of investors. Weiss & Yourman has undertaken this representation on a contingent fee basis and will only be paid its legal fees following court approval of the result of the litigation. ragingbull.com