Globenewswire·2025-10-17 22:01Core Viewpoint - Baxter International, Inc. is facing a securities fraud class action lawsuit due to safety concerns and misleading information regarding its Novum IQ Large Volume Pump, which has been linked to serious patient injuries and deaths [3][4]. Summary by Sections Incident Overview - Safety concerns regarding Baxter's Novum IQ Large Volume Pump emerged on April 7, 2025, following a whistleblower report about inaccurate infusion [3]. - Baxter issued a warning letter on April 24, 2025, acknowledging potential underinfusion risks and disclosing one serious injury [3]. - A second warning letter was sent on July 14, 2025, revealing 79 reports of serious injuries and two patient deaths related to the device [3]. - On July 31, 2025, Baxter announced a voluntary and temporary pause in shipments and installations of the Novum LVP, leading to a share price decline of $6.29, or approximately 22.4%, from $28.05 to $21.76 [3]. Lawsuit Details - The lawsuit is on behalf of investors who purchased Baxter securities from February 23, 2022, to July 30, 2025 [4]. - Allegations include failure to disclose systemic defects in the Novum LVP, which caused malfunctions and exposed patients to serious risks [4]. - Baxter was reportedly aware of multiple device malfunctions, injuries, and deaths but did not take adequate remedial measures [4]. - The lawsuit claims that there was a heightened risk of customers removing existing Novum LVPs from service and a complete pause in new sales [4].