NEW YORK, April 10, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Amgen, Inc. (NASDAQ: AMGN) ("Amgen" or the "Company") for violations of the federal securities laws on behalf of investors who purchased or otherwise acquired Amgen securities between July 29, 2020 to April 27, 2022, both dates inclusive (the "Class Period").
On March 13, 2023, a complaint was filed against the Company and certain of its officers alleging that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and accounting irregularities. Specifically, Defendants made false and/or misleading statements and/or failed to disclose 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; and (vii) as a result, the Company's public statements were materially false and misleading at all relevant times.
When investors learned the truth, Amgen's common stock declined precipitously, injuring investors.
If you suffered a loss in Amgen's securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7234 or via email at firstname.lastname@example.org.
Any investor who wishes to serve as Lead Plaintiff must act before May 12, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
SOURCE: Lowey Dannenberg P.C.