The investigation into Advanced Marketing Services shows few signs of clearing up any time soon. The company announced last week that it will delay its filing of results from the second quarter, which ended September 27, as a result of its inability to file its 10-Q from the first quarter, which it is holding off on as the investigation continues.
In July, the FBI subpoenaed documents relating to AMS's advertising services, and the company later was informed it was under investigation by the SEC. AMS conducts a number of advertising campaigns and also receives advertising revenue through a book-related magazine it publishes called Pages. The company said it has heard from the government several times since the subpoena. "We'll turn things over periodically," said spokesperson Chuck Williams. But he added that AMS remains in the dark about many aspects of the probe. "We don't even know who's alleging this," Williams said.
