Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Baxter International Inc. (“Baxter” or the “Company”) (NYSE: BAX) securities between May 25, 2022 and February 8, 2023, inclusive (the “Class Period”). Baxter investors have until September 11, 2023 to file a lead plaintiff motion.
Investors suffering losses on their Baxter investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On February 9, 2023, before the market opened, Baxter released its fourth quarter and full year 2022 financial results, revealing 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 $4.67, or 10.2%, to close at $41.01 per share on February 9, 2023, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company concealed the true extent of the supply chain problems it was experiencing while simultaneously exaggerating its ability to maintain a healthy supply chain in the face of global pressures; (2) as a result, the Company’s projected earnings were materially misleading during the Class Period; (3) the foregoing, once revealed, was reasonably likely to have a material negative impact on the Company’s financial condition; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230721502071/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
