Online media and direct marketing company L90 Inc. said today that the Securities and Exchange Commission is investigating its financial records, a move that will delay the online media and direct
marketing company's sale to interactive entertainment network eUniverse Inc. The SEC has issued subpoenas to L90 and one of its directors requesting documents related primarily to the company's
financial records. L90 said it has also received a letter from the Nasdaq Listing Investigations requesting information.
L90 also said its VP of finance resigned on Friday - a move likely to be
considered by the audit committee of the company's board of directors, which will conduct its own investigation.