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NEW YORK — MaxWorldwide, formerly L90, said Friday that it has delayed filing its second quarter earnings report due to misclassifications of certain research and development expenses.
The New York-based online and offline media and marketing agency said it is examining the treatment of these expenses with PricewaterhouseCoopers, its new independent auditor that replaced Arthur Andersen in July. The move will likely call for a restatement of the company’s operating results for prior periods, which will require a re-audit of prior results.
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