Baxter International Inc. Securities Litigation (2019)

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Lawsuit Overview

Defendant:Baxter International Inc.
Date Filed:November 25th, 2019
Sector:Health Care
Industry:Medical/Dental Instruments
Class Start Date:February 21st, 2019
Class End Date:October 23rd, 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.

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First Identified Complaint

Ethan E. Silverman, et al. v. Baxter International Inc., et al.

Date Filed:November 25th, 2019
Class Period Start:February 21st, 2019
Class Period End:October 23rd, 2019
First Identified Complaint Filings
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