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BAX.US
id: 777

Baxter International (BAX) Financial Misrepresentation Case

N.D. Illinois
Court
1:23-cv-04497
Case number
25 May 2022
Class period Start
08 Feb 2023
Class period End
11 Sept 2023
Lead Plaintiff motion deadline
  • Baxter revealed that it had not achieved control over its supply chain problems and that its earnings guidance had been unreliable.
  • $BAX fell over 12% and lost $2.8B of its market cap.
  • Investors suspect Baxter of misleading and hiding supply chain issues and their impact on earnings, misrepresenting the company's financial health.
On February 9, 2023, after making numerous statements assuring investors that it could operate successfully despite global challenges to its supply chain, Baxter (BAX) revealed that it had not achieved control over its supply chain problems and that its earnings guidance had been unreliable for some time—Defendants knew the supply chain issues were going to continue to be an insurmountable problem but strung the investing public along to prop up the Company’s share price.

On this news, $BAX fell over 12% and lost $2.8B of its market capitalization, seriously damaging investors.

Taking all the facts into account, Investors have reasons to suspect that Baxter misled investors by hiding supply chain issues and their impact on earnings, misrepresenting the company's financial health.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09 February 2023
Filing date
12 July 2023
Lead Plaintiff Deadline
11 September 2023
Judge
Hon. Robert W. Gettleman
Collecting participants…

Baxter International Inc

Baxter International Inc., through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, ...

    Ticker
    BAX.US
    ISIN
    US0718131099
    CIK
    10456
    Sector
    Healthcare
    Industry
    Medical Instruments & Supplies
    Country
    USA
    Address
    One Baxter Parkway, Deerfield, IL, United States, 60015