Baxter International (BAX) Financial Misrepresentation Case

The case has been dismissed, typically without any further action.

N.D. Illinois

Court

1:23-cv-04497

Case number

05/25/2022

Class period Start

02/08/2023

Class period End

09/11/2023

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.

Case Status

Dismissed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

02/09/2023

Filing date

07/12/2023

Lead Plaintiff Deadline

09/11/2023

Judge

Hon. Robert W. Gettleman