San Diego, CA -- (SBWire) -- 04/06/2023 --An investor, who purchased shares of Amgen Inc. (NASDAQ: AMGN), filed a lawsuit over alleged violations of Federal Securities Laws by Amgen Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Amgen Inc. (NASDAQ: AMGN) have certain options and for certain investors are short and strict deadlines running. Deadline: May 12, 2023. NASDAQ: AMGN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Thousand Oaks, CA based Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide.
On August 3, 2021, Amgen Inc. issued an earnings release for its second fiscal quarter of 2021, which, for the first time, disclosed massive outstanding tax liabilities sought by the IRS. The release stated that Amgen Inc. had received a Notice of Deficiency from the IRS in July 2021 which sought $3.6 billion in back taxes, plus interest, for tax years 2010, 2011, and 2012.
Then, on April 27, 2022, Amgen Inc. issued an earnings release for its first fiscal quarter of 2022, which disclosed that Amgen had received a Notice of Deficiency from the IRS in April 2022 which sought $5.1 billion in back taxes, plus interest, for tax years 2013, 2014, and 2015, and proposed a $2 billion penalty as a result of Amgen's improper tax avoidance strategies.
Amgen Inc. has additionally disclosed that it is under examination by the IRS for the years 2016 to 2018 for similar issues as the prior Notices of Deficiency for years 2010 to 2015, as well as examination by various state and foreign tax jurisdictions. Amgen Inc. has also admitted that "the ultimate outcome of any tax matters may result in payments substantially greater than amounts accrued and could have a material adverse effect on the results of our operations."
The plaintiff claims that between July 29, 2020 and April 27, 2022, the defendants made false and/or misleading statements and/or failed to disclose that the U.S. government claimed Amgen owed more than $3 billion in back taxes for tax years 2010, 2011, and 2012, that the U.S. government claimed Amgen owed more than $5 billion in back taxes for tax years 2013, 2014, and 2015, that 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 Amgen had used the same profit allocation treatment between its U.S. and Puerto Rico operations, that Amgen had not taken sufficient accruals to account for its outstanding tax liabilities, that Amgen had failed to comply with ASC 450 and other rules and regulations regarding the preparation of its periodic U.S. Securities and Exchange Commission filings, and that Amgen's refusal to pay taxes claimed by the U.S. government exposed Amgen to a substantial risk of severe financial penalties imposed by the U.S. Internal Revenue Service ("IRS").
Those who purchased shares of Amgen Inc. (NASDAQ: AMGN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Amgen Inc. (NASDAQ: AMGN) Shareholder Alert: Lawsuit Alleges Misleading Statements
A lawsuit was filed on behalf of investors in Amgen Inc. (NASDAQ: AMGN) shares over alleged securities laws violations.