Advanced Marketing Services Inc. $6 Million Class Action Settlement Got Preliminary Approval

A $6 million proposed class action settlement against San Diego-based Advanced Marketing Services Inc. has got preliminary approval by the United States District Court for the Southern District of California.

The class actions were filed against the company and certain former officers in early 2004 and consolidated as In Re Advanced Marketing Services, Inc. Securities Litigation.

The state court derivative action, subject to court approval, will be settled by the payment of $300,000 in cash and the issuance of 75,000 shares of the company’s common stock to the attorneys for the plaintiffs in the state court derivative action and the attorneys for the plaintiffs in the federal court derivative action

In connection with the settlement of the state court derivative action, the purported stockholder derivative action has been dismissed, the company said.

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