Baxter(US:BAX) Prnewswire·2025-10-30 00:10Core Viewpoint - Baxter International, Inc. is facing a class action lawsuit due to allegations of systemic defects in its Novum IQ Large Volume Pump, which resulted in serious patient risks and a significant drop in stock price following the announcement of a pause in shipments [3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Electrical Workers Pension Fund, Local 103, I.B.E.W. v. Baxter International, Inc., and covers purchasers of Baxter common stock from February 23, 2022, to July 30, 2025 [1]. - Investors have until December 15, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that Baxter made false or misleading statements regarding the safety and functionality of its Novum LVP, which led to malfunctions and patient risks [3]. Group 2: Allegations Against Baxter - Specific allegations include that Baxter was aware of multiple malfunctions and injuries related to the Novum LVP but failed to adequately address these issues [3]. - The lawsuit claims that Baxter's customer alerts were insufficient and that design flaws persisted, leading to serious harm [3]. - Following Baxter's announcement on July 31, 2025, to pause shipments of the Novum LVP, the company's stock price fell by more than 22% [4]. Group 3: Legal Process and Representation - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Baxter common stock during the class period to seek lead plaintiff status [5]. - The lead plaintiff will represent the interests of all class members and can select a law firm to litigate the case [5]. Group 4: Company Background - Robbins Geller Rudman & Dowd LLP is a leading firm in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [6]. - The firm has a strong track record, including securing the largest securities class action recovery in history at $7.2 billion in the Enron case [6].