LOS ANGELES–(BUSINESS WIRE)–$BAX #BAX—The Schall Law Firm, a national shareholder rights litigation firm, announces it has filed a class action lawsuit against Baxter International Inc. (“Baxter” or “the Company”) (NYSE: BAX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between February 21, 2019 and October 23, 2019, inclusive (the “Class Period”), are encouraged to contact the firm before January 24, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Baxter engaged in intra-Company transactions designed to generate gains from foreign exchanges that did not follow GAAP principles and were undertaken when the foreign exchange rates were already known. The Company failed to maintain effective controls on financial reporting. Based on the Company’s internal investigation of these matters, it was not capable of filing a Form 10-Q quarterly report for the period ending September 30, 2019. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Baxter, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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