Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against Baxter International, Inc. (“Baxter” or “the Company) (NASDAQ: BAX) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that held, purchased, or otherwise acquired Seagate securities from May 25, 2022 through February 8, 2023 (the “Class Period”). Investors who acquired Baxter securities during this defined timeframe are strongly encouraged to participate in this case by contacting atara@twerskylawgroup.com. The deadline to file a motion for appointment of lead plaintiff is September 11, 2023.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased Baxter securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST BAXTER INTERNATIONAL, INC.
The complaint alleges that during the specified Class Period, the defendants engaged in deceptive practices by making false and/or misleading statements or by failing to disclose crucial information. According to the complaint, one of the alleged deceptions involved Baxter International Inc.’s concealment of the true extent of supply chain problems while simultaneously exaggerating its ability to maintain a robust supply chain in the face of global pressures. The complaint further asserts that as a consequence of the defendants’ actions, the Company’s projected earnings were significantly misrepresented during the Class Period. This misleading projection of earnings potentially misled investors and caused them to make investment decisions based on inaccurate information. Moreover, it is claimed that the undisclosed supply chain issues, once revealed, were reasonably likely to have a substantial adverse impact on the Company’s financial condition. As a result, the complaint argues that the defendants’ public statements regarding Baxter International’s performance were materially false and misleading throughout the relevant period. The alleged misconduct outlined in the complaint had severe repercussions for the company’s shareholders. Over the Class Period, Baxter’s stock price purportedly declined by almost 50%, leading to a substantial loss of billions of dollars in market capitalization.
ABOUT BAXTER INTERNATIONAL, INC.
What does Baxter International, Inc. do?
- Baxter International Inc. is a leading global healthcare company that is dedicated to improving patient care and enhancing medical solutions. With a broad range of products and services, Baxter focuses on several key areas within the healthcare industry.
- Medication delivery is one of the primary areas of focus for Baxter. The company develops and manufactures intravenous (IV) solutions, which are critical for delivering fluids, medications, and nutrients directly into the bloodstream. This enables healthcare professionals to administer necessary treatments to patients efficiently.
- Baxter is also committed to renal care, specifically dialysis. The company provides advanced technologies and therapies for patients with kidney disease, offering innovative dialysis machines, filters, and solutions. By delivering high-quality renal care products, Baxter supports individuals in managing their condition and improving their quality of life.
- Surgical care is another significant focus for Baxter International. The company develops and supplies a wide range of surgical products, including hemostats, sealants, and tissue products. These products are designed to assist surgeons in achieving optimal outcomes during surgical procedures.
- Additionally, Baxter offers clinical nutrition products to support patients who require specialized nutritional support. These products are formulated to meet the unique dietary needs of individuals who cannot consume a regular diet or require additional supplementation.
Is Baxter International, Inc. a pharmaceutical company?
- While Baxter International does produce pharmaceuticals, it is not primarily categorized as a pharmaceutical company. It operates across various segments within the healthcare industry, including pharmaceuticals, medical devices, and biotechnology.
Who owns Baxter International, Inc.?
- Institutional investors hold a majority ownership of BAX through the 86.52% of the outstanding shares that they control.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those who suffered financial losses in their investments in Baxter during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire Class. The deadline for submitting such a request is September 11, 2023. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.
Investors who believe they may qualify as potential Class members in the class action lawsuit against Baxter are strongly encouraged to reach out directly to the firm for further information and assistance. The knowledgeable legal professionals at Twersky Law Group stand ready to provide guidance and support to investors seeking to protect their rights and pursue the recovery they deserve.
ABOUT US
For more information as well as to join this case please contact Atara Twersky, Esq. at atara@twerskylawgroup.com. Atara is Principal at Twersky Law Group and of counsel at AF&T Law Firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their investment portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries, listen to Atara ’s Pension and Investments Podcast with notable guests in the pension fund Industry that discusses various matters relating to investment portfolios. For more information on Atara and her legal work pertaining to shareholder protection click here.
