BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Baxter International Inc. (“Baxter” or the “Company”) (NYSE: BAX) investors concerning the Company and its officers’ possible violations of federal securities laws.
On October 24, 2019, the Company disclosed certain misstatements in Baxter’s non-operating income for fiscal years 2014 through 2018 related to net foreign exchange gains. Baxter also disclosed that it began an investigation regarding “certain intra-company transactions undertaken for the purpose of generating foreign exchange gains or losses,” which had used a foreign exchange rate convention that was “not in accordance with generally accepted accounting principles and enabled intra-company transactions to be undertaken after the related exchange rates were already known.”
On this news, Baxter’s share price fell sharply during intraday trading on October 24, 2019, thereby injuring investors.
If you purchased Baxter securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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