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Case Status:    ONGOING    
On or around 06/26/2020 (Date of last review)

Filing Date: November 25, 2019

According to the Complaint, Baxter International Inc. provides a broad portfolio of essential healthcare products, including acute and chronic dialysis therapies, sterile intravenous (IV) solutions, infusion systems and devices, parenteral nutrition therapies, inhaled anesthetics, generic injectable pharmaceuticals, and surgical hemostat and sealant products.

The Complaint alleges that, throughout the Class Period, Defendants misrepresented and/or failed to disclose that: (1) certain intra-Company transactions, undertaken for the purpose of generating foreign exchange gains and losses, used foreign exchange rate conventions that were not in accordance with GAAP and enabled intra-Company transactions to be undertaken after the related exchange rates were already known; (2) Baxter lacked effective internal control over financial reporting; (3) as a result, Baxter's financial statements were misstated and would likely require correction or amendment; (4) due to Baxter's internal investigation, it would not be able to file its quarterly report for the period ending September 30, 2019, with the SEC on a Form 10-Q in a timely manner; and (5) as a result of the foregoing, defendants' statements about Baxter's business and operations lacked a reasonable basis.

On January 31, 2020, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on June 25.

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 #: 19-CV-07786
JUDGE: Hon. Sara L. Ellis
DATE FILED: 11/25/2019
CLASS PERIOD START: 02/21/2019
CLASS PERIOD END: 10/23/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Chicago)
  2. Kessler Topaz Meltzer & Check LLP (Pennsylvania)
  3. The Schall Law Firm
No Document Title Filing Date
COURT: N.D. Illinois
DOCKET #: 19-CV-07786
JUDGE: Hon. Sara L. Ellis
DATE FILED: 06/25/2020
CLASS PERIOD START: 02/21/2019
CLASS PERIOD END: 10/23/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Chicago)
  2. Kessler Topaz Meltzer & Check LLP (Pennsylvania)
No Document Title Filing Date
—Related District Court Filings Data is not available