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Baxter International Inc.

Company NameBaxter International Inc.
Stock SymbolBAX
Class PeriodMarch 21, 2019 to October 23, 2019
Lead Plaintiff Motion DeadlineJanuary 24, 2020

On October 24, 2019, the Company disclosed certain misstatements in Baxter’s non-operating income for fiscal years 2014 through 2018 related to net foreign exchange gains. Baxter also disclosed that it began an investigation regarding “certain intra-company transactions undertaken for the purpose of generating foreign exchange gains or losses,” which had used a foreign exchange rate convention that was “not in accordance with generally accepted accounting principles and enabled intra-company transactions to be undertaken after the related exchange rates were already known.”

On this news, the Company’s share price fell $8.87, or roughly 10%, to close at $79.08 per share on October 24, 2019, thereby injuring investors.

 

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