GRABAR LAW OFFICE INVESTIGATES POTENTIAL CLAIMS AGAINST OFFICERS AND DIRECTORS OF BAXTER INTERNATIONAL INC. (NYSE: BAX)
Baxter is a multi-national healthcare company, primarily focusing on products designed to treat kidney disease and other chronic and acute medical conditions.
A recently filed securities fraud class action complaint alleges that Baxter International Inc. (NYSE: BAX), through certain of its officers and directors, materially misrepresented and/or concealed the true nature and severity of supply chain problems it was encountering and the impact these problems were having on the Company’s current and expected earnings. Defendants’ failure to disclose Baxter’s true problems relating to its supply chain deceived market investors about the Company’s true financial health and earnings.
On February 9, 2023, after making numerous statements assuring investors that it could operate successfully despite global challenges to its supply chain, Baxter revealed that it had not achieved control over its supply chain problems 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. Disclosure of the truth erased nearly $1.25 billion of shareholder value on extremely heavy volume.
Current Baxter shareholders who have held Baxter shares since prior to May 25, 2022, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
If you would like to learn more about this matter, you are encouraged to contact Joshua Grabar at email@example.com, or call 267-507-6085.