Class Action Lawsuit Against Amgen Inc. Announced by Schiffrin Craig & Barroway, LLP.BALA CYNWYD, Pa.--(BUSINESS WIRE)--Aug. 12, 1998--Notice is hereby given that a class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax was filed on Aug. 10, 1998 on behalf of all persons who purchased or otherwise acquired the common stock of Amgen Inc. ("Amgen") from Jan. 23, 1997 through Aug. 11, 1997, inclusive (the "Class Period"), announced by Schiffrin Craig & Barroway, LLP LLP - Lower Layer Protocol . The complaint charges that Amgen (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMGN) and several of its senior executives issued false statements regarding: (1) the demand for and sales growth of Amgen's two flagship products A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Epogen E·po·gen A trademark for the drug epoetin alfa. epoetin alfa Epogen, Eprex (CA) (UK), Procrit Pharmacologic class: Recombinant human erythropoietin Therapeutic class: and Neupogen; (2) an arbitration arbitration Process of resolving a dispute or a grievance outside a court system by presenting it for decision to an impartial third party. Both sides in the dispute usually must agree in advance to the choice of arbitrator and certify that they will abide by the proceeding between Amgen and Johnson & Johnson regarding entitlement An individual's right to receive a value or benefit provided by law. Commonly recognized entitlements are benefits, such as those provided by Social Security or Workers' Compensation. to millions of dollars in "spill-over" sales of Epogen; and (3) Amgen's 4th quarter 1996 and 1st quarter and 2nd quarter 1997 results. The complaint alleges that these positive representations were false and artificially inflated Amgen's stock, enabling top Amgen executives to sell 525,595 shares at artificially inflated prices for $32.4 million in proceeds. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Craig & Barroway, LLP which has significant experience and expertise prosecuting class actions on behalf of investors and shareholders. If you are a member of the class described above, you may, not later than Oct. 9, 1998, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin Craig & Barroway, LLP (Andrew L. Barroway, Esq.) toll free at 888/299-7706 or 610/ 667-7706, or via e-mail at classlaw@ix.netcom.com.
CONTACT: Schiffrin Craig & Barroway, LLP
Andrew L. Barroway, Esq.
888/299-7706 (toll free) or 610/667-7706
e-mail: classlaw@ix.netcom.com
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