RAIN - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Baxter Rain and Danaher and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Baxter International, Inc. (NYSE:BAX), Rain Oncology, Inc. (NASDAQ:RAIN), and Danaher Corporation (NYSE:DHR). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Baxter International, Inc. (NYSE:BAX)
Class Period: May 25, 2022 – February 8, 2023
Lead Plaintiff Deadline: September 11, 2023
On February 9, 2023, after making numerous statements assuring investors that it could operate successfully despite global challenges to its supply chain, Baxter revealed that it had not achieved control over its supply chain problems and that its earnings guidance had been unreliable for some time.
Following this news, Baxter shares fell $5.23 per share, or 11.5%, from $45.37 to close at $40.14 per share on February 9, 2023.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company concealed the true extent of the supply chain problems it was experiencing while simultaneously exaggerating its ability to maintain a healthy supply chain in the face of global pressures; (ii) as a result, the Company's projected earnings were materially misleading during the Class Period; (iii) the foregoing, once revealed, was reasonably likely to have a material negative impact on the Company's financial condition; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times. Over the course of the Class Period, Baxter's stock price declined by nearly 50%, eliminating billions of dollars in market capitalization.
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