Federal Judge Rules Amgen Must Face Tax Liability Lawsuit That Alleges Reckless Concealment Of $10.7B Tax Bill

A federal judge has ruled that Amgen Inc. (NASDAQ:AMGN) must address a proposed class-action lawsuit accusing the company of delaying disclosures regarding its potential $10.7 billion tax liability.

The case argues that shareholders were misled when Amgen allegedly concealed the risk of owing billions to the Internal Revenue Service (IRS).

Also Read: Amgen’s Rocatinlimab Has Commercial Potential Despite Competitive Landscape, Says Goldman Sachs.

The Reuters report highlighted that a U.S. District Judge determined that shareholders had a reasonable basis for claiming ...