The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Baxter International Inc. (NYSE: BAX) securities between February 21, 2019 and October 23, 2019.
According to the Baxter lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) certain intra-Company transactions, undertaken for the purpose of generating foreign exchange gains and losses, used foreign exchange rate conventions that were not in accordance with GAAP and enabled intra-Company transactions to be undertaken after the related exchange rates were already known; (2) the Company lacked effective internal control over financial reporting; (3) as a result, the Company’s financial statements were misstated and would likely require correction or amendment; (4) due to the Company’s internal investigation, Baxter would not be able to file its quarterly report for the period ending September 30, 2019, with the SEC on Form 10-Q in a timely manner; and (5) as a result of the foregoing, Defendants’ statements about the Company’s business and operations lacked a reasonable basis.
If you suffered a loss in Baxter you have until January 24, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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