Former eUniverse CEO resigns from board

Jim Hu Staff Writer, CNET News.com
Jim Hu
covers home broadband services and the Net's portal giants.
Jim Hu
A month after of online entertainment site eUniverse, Brad Greenspan on Friday announced his resignation from the company's board of directors.

In a letter to the board, Greenspan criticized certain members for breaching their fiduciary duties. He also said the company's recent $8 million investment from VantagePoint Venture Partners would have a "material adverse impact on the company's ability to relist its common stock on the Nasdaq SmallCap Market." In September, eUniverse announced it would restate its earnings for the first three quarters of 2003. The company's stock was later delisted from the Nasdaq.