The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (“Notice”). Because this website provides just a summary, you should review the Notice for additional details.
The action, captioned In re Baxter Int’l, Inc. Sec. Litig., Case No. 1:19-cv-07786 (N.D. Ill.) (“Action”), was brought in the United States District Court for the Northern District of Illinois (“Court”). The Action alleged that, during the Class Period (i.e., February 21, 2019 through October 23, 2019, inclusive), defendants Baxter International Inc. (“Baxter”), José E. Almeida, and James K. Saccaro (collectively, “Defendants”) violated the federal securities laws by making false and misleading statements and omissions concerning Baxter’s financials. Defendants deny the allegations of wrongdoing asserted in the Action and deny any liability whatsoever to members of the Settlement Class.
The Court-appointed Lead Plaintiffs, Louisiana Municipal Police Employees’ Retirement System and Varma Mutual Pension Insurance Company (together “Lead Plaintiffs”), on behalf of themselves and the Settlement Class, have reached a proposed settlement of the Action with Defendants for $16,000,000 in cash that, if approved, will resolve all claims in the Action (“Settlement”).
The Settlement Class consists of:
All persons and entities who purchased or otherwise acquired Baxter common stock during the period from February 21, 2019 through October 23, 2019, inclusive, and were damaged thereby.
Excluded from the Settlement Class are Defendants, any person who was an executive officer or director of Baxter during the Class Period, their Immediate Family members, any affiliates of Baxter, and any persons or entities who or which exclude themselves by submitting a timely and valid request for exclusion that is accepted by the Court.
If you are a member of the Settlement Class, your legal rights will be affected whether or not you act. Please read the Notice carefully to fully understand your rights and options.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked (if mailed), or submitted via this website, no later than September 16, 2021.
Payments to eligible claimants will be made only after the settlement is approved and any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|IMPORTANT DATES AND DEADLINES:|
September 16, 2021:
CLAIM FILING DEADLINE
|To be potentially eligible to receive a payment from the Settlement, you must mail a completed Claim Form and supporting documentation, postmarked no later than September 16, 2021 in accordance with the instructions in the Notice and Claim Form. You may also submit the Claim Form and supporting documentation electronically via this website no later than September 16, 2021.|
July 20, 2021:
|To exclude yourself from the Settlement Class, you must submit a written request for exclusion so that it is received no later than July 20, 2021, in accordance with the instructions in the Notice.|
July 20, 2021:
|Any objections to the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, must be received no later than July 20, 2021, in accordance with the instructions in the Notice.|
August 10, 2021 at 10:00 a.m. Central Time:
|To attend the Settlement Hearing and/or ask to speak in Court about the fairness of the Settlement, see the instructions in the Notice. The Settlement Hearing will be held on August 10, 2021 at 10:00 a.m. Central Time before the Honorable Sara L. Ellis either in person at the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, IL 60604, Courtroom 1403, or by telephone or video conference (at the Court's discretion). If you plan to attend the Settlement Hearing, please check this website for updates regarding the hearing.|