An investigation for investors in Baxter International Inc. (NYSE: BAX) shares over potential securities laws violations by Baxter International Inc. was announced.
San Diego, CA -- (SBWIRE) -- 11/04/2019 -- Baxter International Inc is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Baxter International Inc. (NYSE: BAX), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Baxter International Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Deerfield, IL based Baxter International Inc., through its subsidiaries, develops and provides a portfolio of healthcare products. On October 24, 2019, Baxter International Inc announced it had opened an internal investigation into certain intra-Company transactions aimed at foreign exchange gains and losses. These transactions used a foreign exchange rate convention that was not in accordance with GAAP and enabled the transactions to be undertaken after the related exchange rates were already known. These transactions resulted in misstatements in Baxter International Inc's previously reported non-operating income related to net foreign exchange gains, reported in amounts from between $8 million and $113 million for the years 2014-2018, and the first half of 2019. Baxter International Inc said it will not timely file its 10-Q for the third quarter of 2019, and it expects to restate its previously reported financial statements.
Shares of Baxter International Inc. (NYSE: BAX) declined from $89.10 per share on October 21, 2019 to $75.67 per share on October 25, 2019.
Those who purchased shares of Baxter International Inc. (NYSE: BAX) have certain options and should contact the Shareholders Foundation.
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