The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Amgen Inc. (NASDAQ: AMGN) who purchased common stock between July 29, 2020 and April 27, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Amgen lawsuit alleges that (a) the U.S. government claimed Amgen owed more than $3 billion in back taxes for tax years 2010, 2011, and 2012; (b) the U.S. government claimed Amgen owed more than $5 billion in back taxes for tax years 2013, 2014, and 2015; (c) the U.S. government would likely claim Amgen owed materially more to the U.S. government than investors had been led to believe for subsequent tax years for which the Company had used the same profit allocation treatment between its U.S. and Puerto Rico operations; (d) Amgen had not taken sufficient accruals to account for its outstanding tax liabilities; (e) Amgen had failed to comply with Accounting Standards Codification Topic 450 and other rules and regulations regarding the preparation of its periodic filings with the U.S. Securities and Exchange Commission; and (f) Amgen’s refusal to pay taxes claimed by the U.S. government exposed the Company to a substantial risk of severe financial penalties imposed by the Internal Revenue Service.
Shareholders have until May 12, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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