NEW YORK, NY / ACCESSWIRE / December 13, 2019 / Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential claims on behalf of shareholders of Baxter International, Inc. ("Baxter" or the "Company") (NYSE: BAX) resulting from allegations that Baxter might have issued misleading information to the investing public.
If you purchased Baxter securities, and/or would like to discuss your legal rights and options please visit Baxter Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
On October 24, 2019, Baxter announced that it "recently began an investigation into certain intra-Company transactions undertaken for the purpose of generating foreign exchange gains or losses," and that according to the Company, "[t]hese transactions used a foreign exchange rate convention historically applied by the Company that was not in accordance with generally accepted accounting principles ("GAAP") and enabled intra-Company transactions to be undertaken after the related exchange rates were already known." The Company also admitted that these intra-Company transactions had "resulted in certain misstatements in the Company's previously reported non-operating income related to net foreign exchange gains" and acknowledged that upon completion of its investigation, "the Company expects to either amend its periodic reports previously filed with the SEC to include restated financial statements that correct those misstatements, or include in reports for future periods restated comparative financial statements that correct those misstatements."
Following this news, the price of Baxter common stock fell $8.87 per share, or 10.1%, from a close of $87.95 per share on October 23, 2019 to close at $79.08 per share on October 24, 2019, on elevated trading volume.
If you purchased Baxter securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/baxterinternationalinc-bax-shareholder-class-action-lawsuit-fraud-stock-230/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
SOURCE: Bernstein Liebhard LLP
View source version on accesswire.com:
https://www.accesswire.com/570223/BAX-LOSSES-ALERT-Bernstein-Liebhard-LLP-Announces-its-Investigation-of-Baxter-International-Inc
