Other actions have been filed making similar allegations regarding the IPOs of more than 300 other companies. All of these have been coordinated for pretrial purposes as In re Initial Public Offering Securities Litigation, Civil Action No. 21-MC-92.

According to a Press Release December 5, 2001, a complaint was filed alleging violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about January 25, 2000, Regent Communications commenced an initial public offering of 16,000,000 of its shares of common stock at an offering price of $8.50 per share (the "Regent Communications IPO"). In connection therewith, Regent Communications filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) the Underwriter Defendants had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriter Defendants allocated to those investors material portions of the restricted number of Regent Communications shares issued in connection with the Regent Communications IPO; and (ii) the Underwriter Defendants had entered into agreements with customers whereby the Underwriter Defendants agreed to allocate Regent Communications shares to those customers in the Regent Communications IPO in exchange for which the customers agreed to purchase additional Regent Communications shares in the aftermarket at pre-determined prices.