LOS ANGELES–(BUSINESS WIRE)–$BAX—Glancy Prongay & Murray LLP (“GPM”) continues its investigation on behalf of Baxter International Inc. (“Baxter” or the “Company”) (NYSE: BAX) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On October 24, 2019, the Company disclosed certain misstatements in Baxter’s non-operating income for fiscal years 2014 through 2018 related to net foreign exchange gains. Baxter also disclosed that it began an investigation regarding “certain intra-company transactions undertaken for the purpose of generating foreign exchange gains or losses,” which had used a foreign exchange rate convention that was “not in accordance with generally accepted accounting principles and enabled intra-company transactions to be undertaken after the related exchange rates were already known.”
On this news, the Company’s share price fell $8.87, or roughly 10%, to close at $79.08 per share on October 24, 2019, thereby injuring investors.
If you purchased Baxter securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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Contacts
Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley F. Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
