The standard .net way of doing this is to use the CancelEventArgs class instead of the regular EventArgs class.
It adds an additional Cancel property that your base class could process and cancel furthur processing of the event.
See
http://msdn.microsoft.com/library/default.asp?url=/library/en-us/cpref/html/frlrfsystemcomponentmodelcanceleventargsclasstopic.asp>
>This works great, but what I'm trying to achieve is to prevent this default parent code
>
>
> '------------------default code goes here---------------------
> MsgBox("parent click at class level")
> '------------------default code goes here---------------------
>
>
>from running if necessary, or maybe override it. For example something happens in my preclick method and I then decide to abort the action etc.