Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Baxter International Inc. (BAX) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired 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.

If you suffered a loss on your Baxter investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Baxter-International-Inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

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.

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If you purchased or otherwise acquired Baxter securities during the Class Period, you may move the Court no later than September 11, 2023 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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