NEW YORK, Nov. 13, 2024 /PRNewswire/ -- Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
- Amgen Inc. (NASDAQ: AMGN)
** Please only contact if shares purchased before July 29, 2020
The investigation involves allegations that: (i) the U.S. government claimed Amgen owed more than $3 billion in back taxes for tax years 2010, 2011, and 2012; (ii) the U.S. government claimed Amgen owed more than $5 billion in back taxes for tax years 2013, 2014, and 2015; (iii) 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; (iv) Amgen had not taken sufficient accruals to account for its outstanding tax liabilities; (v) 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 (vi) 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").
On April 27, 2022, Amgen 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. On this news, the price of Amgen common stock fell by an additional 4.3%, further damaging investors.
If you purchased or otherwise acquired Amgen Inc. (NASDAQ: AMGN), please contact Fletcher Moore by email at fletcher@fmoorelaw.com.
ABOUT MOORE LAW PLLC
Moore Law is a NYC plaintiff contingency litigation law firm for investors. We have extensive experience representing shareholders. We hold officers and directors accountable for breaches of fiduciary duty, fraud, insider trading, wasteful spending, and other corporate misconduct. Our individual clients do not pay for our investor litigation services. There is no cost to you ever.
Contacts
Moore Law PLLC
Fletcher Moore, Esq.
(212) 709-8245
fletcher@fmoorelaw.com
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