NEW YORK, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Baxter International, Inc. (“Baxter” or the “Company”) (NYSE: BAX) between May 25, 2022 and February 8, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Northern District of Illinois and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Baxter securities, and/or would like to discuss your legal rights and options please visit Baxter International, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court no later than September 11, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
According to the Complaint, Baxter is a multi-national healthcare company, primarily focusing on products designed to treat kidney disease and other chronic and acute medical conditions. During the Class Period, Defendants allegedly misrepresented and concealed the true nature and severity of supply chain problems the Company was encountering and the impact they were having on Baxter’s current and expected earnings.
On February 9, 2023, before market hours, Baxter issued a press release to report on its Fourth-Quarter and Full-Year 2002 earnings results. The press release revealed that despite Baxter’s assurances during the Class Period, the problems with the Company’s supply chain and its effect on its operations were not under control, it did not meet its earnings guidance for the year, and Baxter would lower its earnings guidance for the first quarter of 2023.
On this news, Baxter’s stock price fell $5.54 per share, or over 12%, to close at $40.14 per share on February 9, 2023.
If you purchased or acquired Baxter securities, and/or would like to discuss your legal rights and options please visit Baxter International, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
