Summary:

Another Southern California Internet company under investigation: Nasdaq hasrequested additional information from online entertaiment networ…

Another Southern California Internet company under investigation: Nasdaq hasrequested additional information from online entertaiment network EUniverse after the company said it plans to restate results. It will restate its fiscal second and third-quarter financial results because it may have incorrectly accounted for some transactions. The Los Angeles-based company believes the restatement will result in a “material adverse change” to its reported sales and net income for those periods.

By Rafat Ali

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