LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Amgen Inc. (“Amgen” or the “Company”) (NASDAQ: AMGN) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 3, 2021, Amgen released its second quarter 2021 financial results, disclosing that it had outstanding tax liabilities sought by the IRS and that it has received a Notice of Deficiency from the IRS in July 2021, seeking $3.1 billion in back taxes, plus interest for tax years 2010, 2011, and 2012. On this news, Amgen’s stock price fell $15.77, or 6.5%, to close at $228.31 per share on August 4, 2021, thereby injuring investors.
Then, on April 27, 2022, Amgen issued an earnings release for its first quarter of 2022, disclosing that it had received another Notice of Deficiency from the IRS seeking $5.1 billion in back taxes, plus interest, for tax years 2013, 2015, and 2015, and a proposed $2 billion penalty as a result of the Company’s tax avoidance, bringing Amgen’s total amount owed to the IRS over $10 billion. On this news, Amgen’s stock price fell $10.66, or 4.3%, to close at $238.13 per share on April 28, 2022, thereby injuring investors further.
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If you purchased Amgen securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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