Labaton Keller Sucharow LLP Files Securities Class Action Against Baxter International, Inc. and Certain of Its Executives

Labaton Keller Sucharow LLP (“Labaton”) has filed a securities class action lawsuit (the “Action”) on behalf of its client the Electrical Workers Pension Fund, Local 103, I.B.E.W. (“Local 103”) against Baxter International, Inc. (“Baxter” or the “Company”) (NYSE: BAX) and certain of its executives (collectively, “Defendants”). The Action, which is captioned Electrical Workers Pension Fund, Local 103, I.B.E.W. v. Baxter International, Inc., No. 25-cv-12672 (N.D. Ill.), asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder, on behalf of all persons and entities that purchased or otherwise acquired Baxter common stock between February 23, 2022 and July 30, 2025, inclusive (the “Class Period”).

Baxter is a global healthcare company that develops and sells a range of medical products used in hospitals and other healthcare facilities. Among its product offerings, Baxter recently launched its Novum IQ Large Volume Pump (“Novum LVP”), a device used for the delivery of intravenous (“IV”) fluids that carry medications, blood products, and nutrients to patients. Baxter executives declared the Novum LVP launch to be a “landmark achievement” and a “key focus area” for the Company that would be a “promising multiyear growth driver.”

The Action alleges that, throughout the Class Period, Defendants misled investors by failing to disclose that: (a) the Novum LVP suffered systemic defects that caused widespread malfunctions, including underinfusion, overinfusion, and complete non-delivery of fluids, which exposed patients to risks of serious injury or death; (b) Baxter was notified of multiple device malfunctions, injuries, and deaths from these defects; (c) Baxter’s attempts to address these defects through customer alerts were inadequate remedial measures, when design flaws persisted and continued to cause serious harm to patients; (d) as a result, there was a heightened risk that customers would be instructed to take existing Novum LVPs out of service and that Baxter would completely pause all new sales of these pumps; and (e) based on the foregoing, Baxter’s statements about the safety, efficacy, product rollout, customer feedback and sales prospects of the Novum LVPs were materially false and misleading.