Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Baxter International Inc. Securities Litigation

CHICAGO, Oct. 15, 2015 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Baxter International Inc. Securities Litigation:

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION

SUMMARY NOTICE

TO:     ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF BAXTER INTERNATIONAL INC. ("BAXTER" OR THE "COMPANY") DURING THE PERIOD FROM JUNE 10, 2009 THROUGH AND INCLUDING MAY 3, 2010 ("CLASS PERIOD")

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Northern District of Illinois, a hearing will be held on January 22, 2016, at 1:00 p.m., before the Honorable John J. Tharp, Jr., United States District Judge, at the Everett McKinley Dirksen United States Courthouse, Courtroom 1419, 219 South Dearborn Street, Chicago, IL 60604, for the purpose of determining: (1) whether the proposed settlement of the Action for the sum of Forty-Two Million Five Hundred Thousand Dollars ($42,500,000.00) in cash should be approved by the Court as fair, reasonable, and adequate, which would result in this Action being dismissed with prejudice against the Released Persons as set forth in the Amended Settlement Agreement dated August 27, 2015; (2) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) the reasonableness of the application of Lead Counsel for the payment of attorneys' fees and expenses in connection with this Action, together with interest thereon.

If you purchased or otherwise acquired Baxter common stock, your rights may be affected by this Action and the settlement thereof.  If you have not received a detailed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Settlement Fairness Hearing and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Baxter Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040, or by downloading this information at www.baxtersecuritiessettlement.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form postmarked or submitted online no later than January 7, 2016, establishing that you are entitled to a recovery.  You will be bound by any judgment rendered in the Action unless you request to be excluded, in writing, to the above address, postmarked by December 18, 2015.

Any objection to any aspect of the settlement must be postmarked to the Clerk of the Court and sent to the following counsel no later than December 18, 2015:

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

SOURCE Robbins Geller Rudman & Dowd LLP