Securities Suit Against Baxter Gets The Boot

Law360, New York (February 5, 2009, 12:00 AM EST) -- A federal judge on Wednesday threw out a securities lawsuit previously denied class status that accused Baxter International Inc. and its principals of fraud in the months ahead of a 2002 plunge in the health care company's per-share value.

The two remaining individual plaintiffs turned up no evidence to support claims that the defendants lacked good faith when they issued financial projections for 2002, Judge Blanche M. Manning ruled in the U.S. District Court for the Northern District of Illinois.

Her opinion said the plaintiffs failed...
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