Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Northern District of Illinois on behalf of shareholders of Baxter International Inc. who purchased shares between February 21, 2019 and October 23, 2019.
Baxter and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 24, 2019, the Company disclosed that it did not expect to file its 10-Q for the period ended September 30, 2019 on time due to an internal investigation “into certain intra-Company transactions undertaken for the purpose of generating foreign exchange gains or losses…[that] resulted in certain misstatements in the Company’s previously reported non-operating income related to net foreign exchange gains” and that it anticipated restating its financial statements to correct the misstatements.
This news caused the price of Baxter’s shares to decline, injuring shareholders.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 24, 2020 to request that the court appoint them lead plaintiff.