Advanced Marketing Services has been notified that it is under investigation by the Securities and Exchange Commission, in a matter the company believes is related to a search warrant and subpoena served to it by a federal court in July.
This summer, the FBI took some documents related to the company's co-op advertising services. In a filing with the SEC last week, AMS said it had received notice that the agency has begun investigating the company. "We believe that the SEC investigation is related to the matters that are under investigation by the government, which is our advertising," CFO Ed Leonard told PW. The company continues to cooperate with the probe, he said.