NEW YORK, July 26, 2023 (GLOBE NEWSWIRE) — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Baxter International Inc. (NYSE: BAX).
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The lawsuit seeks to recover losses for shareholders who purchased Baxter between May 25, 2022 and February 8, 2023.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until September 11, 2023 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Baxter International Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) as a result, the Company’s projected earnings were materially misleading during the Class Period; (iii) the foregoing, once revealed, was reasonably likely to have a material negative impact on the Company’s financial condition; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times. Over the course of the Class Period, Baxter’s stock price declined by nearly 50%, eliminating billions of dollars in market capitalization.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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