Baxter International, Investors Get First OK of $16 Million Deal

Baxter International Inc. and its investors secured preliminary approval for a $16 million class settlement in federal court in Illinois that would resolve allegations the healthcare company made misleading statements about its accounting for foreign transactions.

The investors faced a “significant risk” of recovering less if they pursued the case to trial, especially because the U.S. District Court for the Northern District of Illinois dismissed their claims with leave to amend in January, they said in a memo supporting their motion for preliminary approval.

Judge Sara L. Ellis granted initial approval to the deal via telephone conference April 20, according ...