What was the amount and nature of the tax dispute that led to Amgen's $74 million shareholder lawsuit settlement?

The IRS accused Amgen of underpaying taxes between 2010 and 2015—mainly by improperly shifting profits to its Puerto Rico unit—and sought $8.7 billion in back taxes plus interest and $2 billion in penalties, totaling $10.7 billion, stemming from its transfer pricing practices.

Why did Amgen shareholders file a class-action lawsuit, and what period does the settlement cover?

Shareholders alleged Amgen delayed disclosing its $10.7 billion tax liability, causing stock price drops of 6.5% on August 4, 2021, and 4.3% on April 28, 2022; the settlement covers shareholders who held Amgen stock between July 29, 2020, and April 27, 2022.

Amgen Settles Shareholder Lawsuit Claiming It Hid $10.7 Billion Tax Bill

Jul 21, 2026

Amgen agreed to a $74 million settlement regarding a shareholder lawsuit alleging concealment of a $10.7 billion tax liability tied to its Puerto Rico drug manufacturing operations. The company denies wrongdoing despite claims that delayed disclosure caused stock declines.

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