Baxter International Investigated For Securities Fraud After Company Announces Internal Investigation; Block & Leviton LLP Encourages Investors to Contact the Firm
BOSTON, Oct. 24, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, is investigating Baxter International (NYSE: BAX) and certain of its officers and directors for potential violations of federal securities laws.
On October 24, 2019, shares of Baxter fell more than 9% in early morning trading after the Company disclosed an internal probe into its currency trading practices. According to news reports, Baxter engaged in certain intra-Company transactions undertaken for the purpose of generating foreign exchange gains or losses which were not booked in accordance with generally accepted accounting principles. These intra-Company transactions allegedly resulted in certain misstatements in the Company’s previously reported non-operating income related to net foreign exchange gains. The Company also reported that it has advised the Securities and Exchange Commission SEC of the internal investigation and advised investors that the Company does not expect to file its quarterly report on Form 10-Q for the period ended September 30, 2019 on a timely basis.
If you purchased or otherwise acquired Baxter securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/baxter.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mdelaney@blockesq.com
SOURCE Block & Leviton LLP
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