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City of Lakeland Employees Pension Plan v. Baxter Int.l, 10-cv-06016 (N.D. Ill)

Miller Law attorneys and lead counsel prosecuted this class action alleging violations of federal securities laws.  The plaintiffs generally alleged that during the Class Period, defendants artificially inflated the Company’s stock price by misrepresenting and omitted material information concerning the true status of the remediation of the Company’s Colleague infusion pump divisions and the state of and outlook of the Company’s plasma business. Plaintiffs allege that defendants’ allegedly false and misleading statements and omissions artificially inflated the price of Baxter stock, and when the truth was eventually disclosed, resulted in substantial damages. In exchange for the settlement and dismissal of the action, Defendants have agreed that a payment of $42.5 million will be made to all Class Members who send in a valid Proof of Claim Form.