Baxter(US:BAX) Globenewswire·2025-11-25 20:27Core Viewpoint - Baxter International Inc. is facing a class action lawsuit due to allegations of misleading investors regarding the safety of its Novum LVP device, which has been linked to serious malfunctions and risks to patient safety [1][3]. Summary by Sections Company Overview - Baxter International Inc. is a global company that develops, manufactures, and markets medical products used in hospitals and healthcare facilities [1]. Class Action Details - The class period for the lawsuit is from February 23, 2022, to July 30, 2025 [1]. - The lawsuit was filed on behalf of all investors who purchased or acquired Baxter's stock during this period [1]. Allegations Against Baxter - The complaint alleges that Baxter failed to disclose systemic defects in the Novum LVP device, which led to malfunctions such as underinfusion, overinfusion, and non-delivery of fluids, posing risks of serious injury or death to patients [3]. - Baxter was reportedly aware of multiple device malfunctions, injuries, and deaths but did not take adequate remedial measures [3]. - The company’s statements regarding the safety, efficacy, and sales prospects of the Novum LVPs were claimed to be materially false and misleading [3]. Impact on Stock Price - On July 31, 2025, Baxter announced a suspension of all new Novum LVP sales, leading to a 22.4% drop in stock price, closing at $21.76 [4]. Next Steps for Shareholders - Shareholders interested in participating in the class action must submit their papers by December 15, 2025, to serve as lead plaintiff [5]. - Shareholders can remain absent class members if they choose not to participate [5].