Amgen, Inc. (NASDAQ: AMGN)

This lawsuit is for anyone who acquired securities in Amgen, Inc. (NASDAQ: AMGN) from July 29, 2020 through April 27, 2022.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the U.S. Government claims that the Company owes it substantial taxes.

On August 3, 2021, Amgen released its second quarter 2021 financial results, disclosing that it had outstanding tax liabilities sought by the IRS and that it has received a Notice of Deficiency from the IRS in July 2021, seeking $3.1 billion in back taxes, plus interest for tax years 2010, 2011, and 2012. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on April 27, 2022, Amgen issued an earnings release for its first quarter of 2022, disclosing that it had received another Notice of Deficiency from the IRS seeking $5.1 billion in back taxes, plus interest, for tax years 2013, 2015, and 2015, and a proposed $2 billion penalty as a result of the Company’s tax avoidance, bringing Amgen’s total amount owed to the IRS over $10 billion. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Amgen, Inc. (NASDAQ: AMGN) from July 29, 2020 through April 27, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.