Overview

A class action lawsuit has been filed against Baxter International, Inc. (“Baxter” or the “Company”) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws. The Company’s common stock trades on the NYSE under the ticker symbol “BAX.”

The Baxter class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Baxter common stock between February 23, 2022, and July 30, 2025, both dates inclusive, (the “Class Period”).

Baxter is a global company that develops, manufactures, and markets medical products used in hospitals and other healthcare facilities. Among its product offerings, Baxter recently launched the Novum IQ Large Volume Pump (“Novum LVP”), a device used for the controlled delivery of intravenous (“IV”) fluids that carry medications, blood products, and nutrients to patients. In late 2020, Baxter began selling the Novum LVP in Canada after receiving marketing authorization from Health Canada. Starting in April 2024, after multiple regulatory delays, Baxter began selling the Novum LVP into the United States after the U.S. Food and Drug Administration (“FDA”) granted sales clearance on the device. The importance of the North American sales rollout of the Novum LVP was underscored by Baxter executives who called the launch a “landmark achievement” and a “key focus area” that would be a “promising multiyear growth driver.”

The lawsuit alleges that Baxter International and its executives misled investors about the safety, performance, and commercial rollout of its Novum Large Volume Pump (LVP), an infusion device promoted as a best-in-class, technologically advanced system for safe medication delivery. Baxter described the Novum LVP as “the latest pump out in the market” with “the most advanced safety features,” emphasizing that it was designed to integrate with electronic medical record systems and serve as the successor to the company’s older Spectrum infusion pump. The Novum LVP was positioned as critical to maintaining Baxter’s market share in the IV infusion pump sector.

The lawsuit alleges that Baxter portrayed the Novum LVP as safe and effective while concealing systemic defects that posed severe risks to patient safety. Before the U.S. launch, executives assured investors that all issues identified during the initial rollout in Canada had been resolved and that the U.S. launch was proceeding smoothly. Baxter’s former CEO, Jose Almeida, described the launch as “one of the best” of his career. In reality, the company was reportedly struggling with recurring, life-threatening malfunctions that caused underinfusion, overinfusion, and non-delivery of fluids—defects that exposed patients to risks of serious injury or death. The complaint alleges that Baxter knew of multiple malfunction reports, injuries, and deaths tied to these defects, and that its warning letters to customers were inadequate because they failed to address underlying design flaws.

Concerns first became public on April 7, 2025, when a Missouri news outlet reported that a whistleblower from a local hospital had raised alarms about inaccurate infusion rates in Novum LVP devices, calling them unsafe and stating that all attempted fixes were mere “Band-Aid solutions.” The hospital subsequently removed the pumps from service, but Baxter did not respond to media inquiries and continued promoting the product as safe. Weeks later, on April 24, 2025, Baxter issued a warning letter to customers acknowledging a risk of underinfusion and one related serious injury. A second letter on July 14, 2025, added warnings about overinfusion and disclosed that Baxter had received 79 reports of serious injury and two patient deaths linked to the Novum LVP. Despite these revelations, the company instructed hospitals to continue using the pumps. The FDA later classified the issues as a Class I recall, its most severe category, indicating a risk of serious injury or death.

On July 31, 2025, Baxter announced it would suspend all new sales and installations of the Novum LVP, citing safety concerns identified through its “quality listening systems” and customer feedback. The company stated it could not provide a timeline for resuming shipments and offered its older Spectrum infusion pump as an alternative. Analysts expressed surprise at the announcement, noting that Baxter had consistently maintained optimism about the product’s success. Following the disclosure, Baxter’s stock price fell 22.4 percent, closing at $21.76 per share.

The lawsuit alleges that, by concealing the Novum LVP’s safety defects and misleading investors about the success of its rollout, Baxter artificially inflated its stock price. When the truth emerged through reports of injuries, deaths, and the suspension of product sales, the company’s stock value dropped sharply, causing investors to suffer significant losses.

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If you purchased or otherwise acquired Baxter common stock between February 23, 2022, and July 30, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as lead plaintiff in the Baxter class action lawsuit is December 15, 2025.