A pension fund’s lawsuit against pharmaceutical giant
The fund claimed in March 2023 that Amgen misled investors by waiting too long to reveal that the Internal Revenue Service was seeking $10.7 billion in unpaid taxes and penalties. The lawsuit was filed by Roofers Local No. 149 Pension Fund.
The IRS has accused Amgen of shifting its drug profits to a subsidiary in Puerto Rico through transfer pricing to lower its tax bill. Transfer pricing involves transactions between related companies ...