Deadline Soon: Baxter International, Inc. (BAX) Investors Who Lost Money Urged to Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming December 15, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Baxter International, Inc. ("Baxter" or the "Company") (NYSE: BAX) securities between February 23, 2022 and October 29, 2025, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO LOST MONEY ON BAXTER (BAX), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.

What Happened?

On April 7, 2025, a Missouri news outlet reported serious safety issues relating to inaccurate infusion rates with Baxter’s Novum IQ Large Volume Pump (“Novum LVP”), a device used for the controlled delivery of intravenous fluids, based on information from a whistleblower at a local hospital system. The whistleblower claimed that “patients should not be being treated with these pumps. These pumps are not safe.” The report led to the hospital system’s removal of all Novum LVPs.

Then, on April 24, 2025, Baxter sent warning letters to customers regarding a potential underinfusion risk associated with the Novum LVP, disclosing only one serious injury linked to this issue. On July 14, 2025, the Company issued a second warning letter repeating the underinfusion risk along with an additional overinfusion risk, revealing that it had received 79 reports of serious injury and two reports of patient deaths related to the Novum LVP. The FDA subsequently classified these issues as a Class I recall, its most serious designation, reflecting a risk of severe injury or death.

Then, on July 31, 2025, Baxter announced that it was “voluntarily and temporarily [pausing] shipments and planned installations of the Novum LVP” and that the Company was “unable to currently commit to an exact timing for resuming shipment and installation for Novum LVPs.”

On this news, Baxter’s stock price fell $6.24, or 22.4%, to close at $21.61 per share on July 31, 2025, thereby injuring investors.

What Is The Lawsuit About?

The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) 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; (2) Baxter was notified of multiple device malfunctions, injuries, and deaths from these defects; (3) 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; (4) 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 (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Baxter securities between February 23, 2022 and October 29, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is December 15, 2025.

Contact Us to Participate or Learn More:

If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:

Frank R. Cruz
The Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Century City, California 90067
Email us at: [e-mail]
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.