According to the lawsuit, defendants throughout the Class Period 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;
- the U.S. government claimed Amgen owed more than $5 billion in back taxes for tax years 2013, 2014, and 2015;
- 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;
- Amgen had not taken sufficient accruals to account for its outstanding tax liabilities;
- Amgen had failed to comply with ASC 450 and other rules and regulations regarding the preparation of its periodic SEC filings; and
- 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 IRS.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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