Federal Judge Rules Amgen Must Face Tax Liability Lawsuit That Alleges Reckless Concealment Of $10.7B Tax Bill
Portfolio Pulse from Vandana Singh
A federal judge has ruled that Amgen Inc. must face a class-action lawsuit alleging it concealed a $10.7 billion tax liability, misleading shareholders. The lawsuit claims Amgen delayed disclosures about its tax dispute with the IRS, causing significant shareholder losses.
October 02, 2024 | 5:34 pm
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Amgen is facing a class-action lawsuit for allegedly concealing a $10.7 billion tax liability, which could have misled shareholders and caused significant losses. The federal judge's ruling requires Amgen to address these allegations.
The lawsuit and the judge's ruling highlight potential financial and reputational risks for Amgen, which could negatively impact its stock price. The allegations of concealing a significant tax liability may lead to investor concerns and market volatility.
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