L90 has been granted approval by Nasdaq to continue the listing of its common stock on the Nasdaq National Market System provided it complies with Nasdaq marketplace rules.
As a result, the online and offline marketing services firm’s trading symbol will be changed from “LNTYE” to “LNTY” as of June 20.
In April, L90 received a delisting warning from Nasdaq because the company was late in filing its 2001 annual report as a result of a shareholder lawsuit and an investigation by the Securities and Exchange Commission. (DIRECT Newsline, May 17).
Last month, the Los Angeles-based firm restated its 2001 financial results.
For the year ended Dec. 31, 2001, the online marketing services firm reported a net loss of $52.6 million, an increase from $20.5 million for 2000.
Revenue for 2001 was $27.7 million, a drop-off from $48.7 million the year before.
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