To: 2themoon who wrote (627 ) 6/19/1999 7:10:00 PM From: StockDung Respond to of 1494
Truthseeker trys to help those that may have been taken. Call this firm. They seem to know what they are doing. If you paid between $14 and $40 for TMRT you should be giving them a call. Hitsgalore.com, Inc. Named in Shareholder Class Action Suit Filed by the Pomerantz Firm NEW YORK--(BUSINESS WIRE)--June 19, 1999--The following was released today by Pomerantz Haudek Block Grossman & Gross LLP: On June 11, 1999, Pomerantz Haudek Block Grossman & Gross LLP (http://www.pomlaw.com) filed a class action lawsuit against Hitsgalore.com, Inc. (OTC: HITT) ("Hitsgalore" or the "Company") and one of its officers and directors on behalf of all investors who acquired the Company's common stock during the period February 17, 1999 through and including May 27, 1999, inclusive (the "Class Period"). The lawsuit, pending in the United States District Court for the Central District of California, alleges that defendants' violated the federal securities laws by issuing false and misleading information about the Company's management and business condition and that this information artificially inflated the price of the Company's securities. Specifically, the Complaint alleges that defendants failed to disclose material information about the Company's founder, Dorian Reed. On May 11, 1999, it was announced that Dorian Reed, along with two other individuals, was ordered to pay to customers over a half a million dollars for false claims made by a failed online advertising company they worked for. The market reacted swiftly to the shocking news and the price of Hitsgalore's stock dropped over 50% to close at 9 3/8. The Company subsequently reported that Dorian Reed served 10 months in a federal prison for wire fraud in 1992. In addition, it has been reported that the Company's head of investor relations, Frank Pinizzito, was charged with investor fraud while working as a broker. 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. If you acquired Hitsgalore common stock within the Class Period and were damaged, you may file a motion with the District Court, no later than July 13, 1999, requesting to serve as one of the lead plaintiffs in the action. To serve as a lead plaintiff, you must meet certain legal requirements. 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 ((888) 4-POMLAW) or via e-mail at mcfrazzitta@pomlaw.com. Those who inquire by e-mail are encouraged to include their mailing address and phone number. The Pomerantz firm is acknowledged as one of the premier firms in the areas of corporate, securities, 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. The Pomerantz firm's Senior Partner, Stanley M. Grossman, leads a team of legal professionals who litigate in courts throughout the United States. The Firm affiliates, as necessary, with other highly qualified counsel throughout the nation. Mr. Grossman, formerly president of the National Association of Securities and Commercial Attorneys, was recently invited to testify before the House Subcommittee on Courts and Intellectual Property concerning the Class Action Jurisdiction Act of 1998. Mr. Grossman aided congressional assistants in the drafting of this bill. CONTACT: Pomerantz Haudek Block Grossman & Gross LLP, New York Mildred C. Frazzitta, Esq. or Julian P. Carr (888) 476-6529 Internet: mcfrazzitta@pomlaw.com TICKERS: OTC BB:HITT KEYWORD: NEW YORK BW1406 JUN 19,1999 5:14 PACIFIC 8:14 EASTERN