Baxter(US:BAX) Businesswire·2025-10-27 16:00Core Viewpoint - A securities fraud class action lawsuit has been filed against Baxter International, Inc. for misleading investors regarding the safety and operational issues of its Novum IQ Large Volume Pump, leading to significant financial losses for shareholders [1][5]. Summary by Sections Lawsuit Announcement - Glancy Prongay & Murray LLP has announced a class action lawsuit on behalf of Baxter investors who purchased shares between February 23, 2022, and July 30, 2025, with a deadline of December 15, 2025, for filing a lead plaintiff motion [1]. Safety Issues and Stock Impact - Reports surfaced on April 7, 2025, regarding serious safety issues with Baxter's Novum LVP, leading to its removal from a hospital system due to claims that the pumps were unsafe [2]. - Baxter issued warning letters about underinfusion risks on April 24, 2025, and later revealed 79 reports of serious injuries and two patient deaths related to the device, prompting a Class I recall from the FDA [3]. - Following the announcement of a pause in shipments and installations of the Novum LVP on July 31, 2025, Baxter's stock price dropped by $6.24, or 22.4%, closing at $21.61 per share [4]. Allegations in the Lawsuit - The lawsuit alleges that Baxter made materially false and misleading statements and failed to disclose critical information about the Novum LVP's systemic defects, which posed risks of serious injury or death to patients [5][6]. - Specific allegations include the company's knowledge of device malfunctions, inadequate remedial measures, and the risk of halting new sales of the Novum LVP due to safety concerns [5][6].