You may qualify if you bought Baxter common stock (NYSE: BAX) from Feb. 23, 2022 through July 30, 2025 inclusive.
The original complaint defines that purchase window as the potential class period. A securities class action lets investors sue together over alleged false statements that moved a stock price. This case centers on the Novum IQ Large Volume Pump, a hospital pump that delivers fluids and medicine by infusion.
Official resources:
- Explore the official data from FDA — Use this primary source to review the underlying data.
- Check eligibility on Labaton’s official study page — Use this page to check the study’s participation requirements.
Table of Contents
- What does the lawsuit claim?
- What happened with the Novum pump?
- Do your purchases qualify?
- What can you do next?
What does the lawsuit claim?
Labaton Keller Sucharow filed *Electrical Workers Pension Fund, Local 103 v. Baxter International, No. 25-cv-12672* in the Northern District of Illinois. The suit brings claims under Exchange Act Sections 10(b) and 20(a) and Rule 10b-5, according to the Labaton Keller Sucharow filing. The complaint alleges Baxter hid systemic defects in its Novum IQ Large Volume Pump.
Those defects allegedly created risks of underinfusion, overinfusion, and non-delivery. The alleged risk included serious injury or death. Investors claim the omissions kept the stock price higher than it should have been. They seek recovery for losses tied to the later disclosures. Liability is still only alleged at this stage.
What happened with the Novum pump?
An April 7, 2025 KMOV whistleblower report raised concerns about inaccurate infusion rates. Baxter then sent an April 24 warning letter citing one serious injury, followed by a July 14 letter citing 79 serious injuries and two deaths. On July 31, Baxter paused Novum pump shipments and installations without setting a restart date, after which BAX fell $6.29, or 22.42%, from $28.05 to $21.76, according to the Lieff Cabraser notice. FDA records list Baxter Novum IQ pump recalls including Recall No.
Z-2332-2025 with Class 1 classification. Class 1 is the most serious type, used for underinfusion issues, according to the FDA recall record. The sequence matters for investors. Safety warnings grew sharper over three months. Then came the shipment pause and a sharp one-day price drop.
Do your purchases qualify?
The original action covers buyers of Baxter common stock, not options, bonds, or other securities. The dates are inclusive, so both the start and end dates count. Check these points against your records: A related Bernstein Litowitz filing claims a longer period through Oct.
29, 2025. Notices set Dec. 15, 2025 as the lead-plaintiff motion deadline, and late movers generally remain class members only if requirements are met, according to the same Lieff Cabraser notice.
- Did you buy BAX common stock, not another Baxter security?
- Did the purchase occur between Feb. 23, 2022 and July 30, 2025?
- Did you hold through a corrective disclosure and lose money?
- Can you document dates, share counts, and prices?
What can you do next?
Gather brokerage statements before you contact counsel or review a notice. Sort them by purchase date, sale date, share count, and price. Keep records for shares bought in the class window even if you later sold. Decide whether you want to seek a lead-plaintiff role or simply remain an absent class member.
Lead-plaintiff moves had a Dec. 15, 2025 deadline. Remaining in the class usually requires no filing now, but you must meet the class requirements later. Labaton Keller Sucharow reports no settlement and no proven recovery. Eligibility does not guarantee payment, and the court has not decided liability or certified the class.