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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.