NEW YORK, April 8, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Amgen Inc. (“Amgen” or the “Company”) AMGN. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Amgen and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On April 27, 2022, Amgen released an earnings statement for its first fiscal quarter 2022, disclosing that in April 2022 the company received a notice of defects from the IRS requesting $5.1 billion in back taxes plus interest for tax years 2013, 2014 and 2015 and proposed a $2 billion fine as a result of Amgen’s improper tax avoidance policies. As such, the total amount the company owed the U.S. government, as claimed by the IRS, was more than $10 billion — far more than investors had led us to believe — likely in addition to significant back taxes for subsequent tax years for which Amgen is owed was applied the same profit allocation treatment between its US and Puerto Rico operations. The press release also states that Amgen intends to file a complaint with the US Internal Revenue Court to challenge the deficiency notice, which it intends to consolidate with its pending lawsuit for prior tax years.

As a result of this news, Amgen’s stock price fell $10.66 per share, or 4.28%, to close at $238.13 per share on April 28, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the…