AMS Ready to Settle Civil Suits Advanced Marketing Services announced this morning that the company has gotten preliminary approval from a District Court for a proposed settlement of the class action suit filed by shareholders in the wake of the two government investigations of illegal advertising practices and the company’s related restatement of earnings in early 2004. The proposed cash settlement of $6.3 million (including attorneys’ fees) will be covered by insurance, and the lawyers will also get 75,000 shares of AMS stock. While the settlement, once approved, will clear all shareholder litigation against the company, it has no effect […]
