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Case Status:    SETTLED
On or around 01/22/2016 (Date of order of final judgment)

Filing Date: September 21, 2010

According to the complaint filed September 21, 2010, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s plasma-derivative products business. Notwithstanding changes in the industry that would inhibit Baxter’s growth, defendants assured investors that the Company’s recent improvements in gross margin were not only sustainable but could even expand.

Defendants further issued materially false and misleading statements regarding the remediation of the Company’s COLLEAGUE infusion pump. Specifically, defendants failed to disclose that Baxter was not complying with the terms of a June 2006 consent decree it had entered into with the U.S. Food and Drug Administration (“FDA”). As a result of defendants’ false and misleading statements about the Company’s growth and products, Baxter stock traded at artificially inflated prices during the Class Period, reaching a high of $61.71 per share on January 14, 2010.

On November 30, 2011, the Honorable Sharon Johnson Coleman consolidated two similar actions, and granted the motion to appoint National Elevator Industry Pension Fund as lead plaintiff and approved its selection of Robbins Geller Rudman & Dowd LLP and Miller Law LLC as liaison counsel. On January 28, 2011, a Consolidated Amended Complaint was filed. A Consolidated Amended Complaint was filed on April 15, 2011. The defendants responded by filing a motion to dismiss on May 27, 2011.

On January 23, 2012, the Honorable Sharon Johnson Coleman signed the Order granting in part and denying in part defendants' motion to dismiss.

According to a Minute entry, on April 11, 2012 the Court grated defendant's motion to stay proceedings and stayed the remainder of this case pending appeal.

On August 27, 2015, the parties entered into a Settlement Agreement. This Settlement was preliminarily approved by the Court on September 18. On January 22, 2016, the Court granted final approval of the Settlement and dismissed this action.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BAX
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Illinois
DOCKET #: 10-CV-06016
JUDGE: Hon. Sharon Johnson Coleman
DATE FILED: 09/21/2010
CLASS PERIOD START: 09/17/2009
CLASS PERIOD END: 05/03/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Miller Law LLC
    115 S. LaSalle Street, Suite 2910, Miller Law LLC, IL 60603
    312.676.2665 · info@MillerLawLLC.com
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
No Document Title Filing Date
COURT: N.D. Illinois
DOCKET #: 10-CV-06016
JUDGE: Hon. Sharon Johnson Coleman
DATE FILED: 04/15/2011
CLASS PERIOD START: 06/10/2009
CLASS PERIOD END: 05/03/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Boca Raton)
    120 East Palmetto Park Road, Suite 500, Robbins Geller Rudman & Dowd LLP (Boca Raton), FL 33432
    561.750.3000 561.750.3364 ·
No Document Title Filing Date