NEW YORK, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of purchasers or acquirers of Baxter International, Inc. (“Baxter” or the “Company”) (NYSE: BAX) securities between March 25, 2022 and February 8, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.
If you acquired Baxter securities during the Class Period and would like to discuss this case, please click here. You may also contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.
If you are a member of the proposed Class, you may move the court no later than September 11, 2023 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
On February 9, 2023, before the market opened, Baxter released its fourth quarter and full year 2022 financial results, which as alleged in the complaint revealed that the Company did not meet its earning guidance for the year. The Company claimed that “supply chain headwinds continue to weigh on business performance.” On this news, Baxter’s stock price fell $5.54 per share, over 12%, to close at $40.14 per share on February 9, 2023.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose (1) the true extent of supply chain problems Baxter was experiencing while simultaneously exaggerating its ability to maintain a healthy supply chain in the face of global pressures; (2) that, as a result, Baxter's projected earnings were materially misleading during the Class Period; and (3) that the foregoing, once revealed, was reasonably likely to have a material negative impact on Baxter's financial condition.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
