Los Angeles - (NewMediaWire) - May 03, 2022 - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Amgen Inc. (“Amgen” or “the Company”) (NASDAQ: AMGN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. As part of Amgen’s first quarter 2022 earnings release issued on April 27, 2022, the Company admitted that: “on April 18, 2022, Amgen received a notice of deficiency from the [Internal Revenue Service (‘IRS’)] for the 2013-2015 period proposing adjustments primarily related to the allocation of profits between certain of the Company’s entities in the United States and the U.S. territory of Puerto Rico,” which “seeks to increase Amgen’s U.S. taxable income for the 2013-2015 period by an amount that would result in additional federal tax of approximately $5.1 billion, plus interest.” The Company also disclosed that the IRS has proposed a penalty of approximately $2 billion related to the deficiency. Based on this news, shares of Amgen fell sharply on April 28, 2022.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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Brian Schall, Esq.