The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (“Notice”). Because this website provides just a summary, you should review the Notice for additional details.
The action, captioned In re Baxter Int’l, Inc. Sec. Litig., Case No. 1:19-cv-07786 (N.D. Ill.) (“Action”), was brought in the United States District Court for the Northern District of Illinois (“Court”). The Action alleged that, during the Class Period (i.e., February 21, 2019 through October 23, 2019, inclusive), defendants Baxter International Inc. (“Baxter”), José E. Almeida, and James K. Saccaro (collectively, “Defendants”) violated the federal securities laws by making false and misleading statements and omissions concerning Baxter’s financials. Defendants deny the allegations of wrongdoing asserted in the Action and deny any liability whatsoever to members of the Settlement Class.
The Court-appointed Lead Plaintiffs, Louisiana Municipal Police Employees’ Retirement System and Varma Mutual Pension Insurance Company (together “Lead Plaintiffs”), on behalf of themselves and the Settlement Class, have settled the Action with Defendants for $16,000,000 in cash, resolving all claims in the Action (“Settlement”).
The Settlement Class consists of:
All persons and entities who purchased or otherwise acquired Baxter common stock during the period from February 21, 2019 through October 23, 2019, inclusive, and were damaged thereby.
Please read the Notice carefully to fully understand your rights and options.