UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
Case No. 1:19-cv-07786 |
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IN RE BAXTER INTERNATIONAL INC. |
District Judge Sara L. Ellis |
SECURITIES LITIGATION |
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Magistrate Judge Jeffrey I. Cummings |
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SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) SETTLEMENT HEARING;
AND (III) MOTION FOR ATTORNEYS’ FEES AND LITIGATION EXPENSES
TO: All persons and entities who purchased or otherwise acquired Baxter International Inc. (“Baxter”) common stock during the period from February 21, 2019 through October 23, 2019, inclusive, and were damaged thereby (“Settlement Class”). Certain persons and entities are excluded from the Settlement Class as set forth in detail in the Stipulation and Agreement of Settlement dated April 1, 2021 (“Stipulation”) and the Notice described below.
PLEASE READ THIS NOTICE CAREFULLY; YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of Illinois (“Court”), that the above-captioned action (“Action”) has been provisionally certified as a class action for the purposes of settlement only on behalf of the Settlement Class. YOU ARE ALSO NOTIFIED that the parties to the Action have reached a proposed settlement for $16,000,000 in cash (“Settlement”) that, if approved, will resolve all claims in the Action.
A hearing will be held on August 10, 2021 at 10:00 a.m., before the Honorable Sara L. Ellis at the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, IL 60604, Courtroom 1403, to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the releases specified and described in the Stipulation (and in the Notice described below) should be entered; (iii) whether the Settlement Class should be certified for purposes of effectuating the Settlement; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel’s motion for attorneys’ fees and litigation expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund.
If you have not yet received the detailed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (“Notice”) and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Baxter International Inc. Securities Litigation, c/o Epiq Class Action & Claims Solutions, Inc., P.O. Box 5594, Portland, OR 97228-5594, 1-855-654-0873, info@BaxterSecuritiesLitigation.com. Copies of the Notice and Claim Form can also be downloaded from the website for the Settlement, www.BaxterSecuritiesLitigation.com, or from Lead Counsel’s websites, www.blbglaw.com and www.ktmc.com.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (if mailed), or online, no later than September 16, 2021, in accordance with the instructions set forth in the Claim Form. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any releases, judgments, or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than July 20, 2021, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any releases, judgments, or orders entered by the Court in the Action and you will not be eligible to share in the net proceeds of the Settlement. Excluding yourself is the only option that may allow you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel’s motion for attorneys’ fees and litigation expenses, must be filed with the Court and delivered to Lead Counsel and Defendants’ Counsel such that they are received no later than July 20, 2021, in accordance with the instructions set forth in the Notice.
PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, DEFENDANTS, OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE. All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Requests for the Notice and Claim Form should be made to the Claims Administrator:
Baxter International Inc. Securities Litigation
c/o Epiq Class Action & Claims Solutions, Inc.
P.O. Box 5594
Portland, OR 97228-5594
1-855-654-0873
info@BaxterSecuritiesLitigation.com
www.BaxterSecuritiesLitigation.com
All other inquiries should be made to Lead Counsel:
James A. Harrod, Esq.
Bernstein Litowitz Berger & Grossmann LLP
1251 Avenue of the Americas
New York, NY 10020
1-800-380-8496
settlements@blbglaw.com
Sharan Nirmul, Esq.
Kessler Topaz Meltzer & Check, LLP
280 King of Prussia Road
Radnor, PA 19087
1-610-667-7706
info@ktmc.com
DATED: June 1, 2021
BY ORDER OF THE COURT
United States District Court
Northern District of Illinois