Baxter faces barrage of class actions
This article was originally published in Clinica
The inevitable class actions are lining up outside Baxter's door after the company revealed lacklustre second quarter results last month and announced that it planned to restate its earnings for the years 2001 to 2003 and for the first quarter of 2004. The restatement was due to accounting fraud at its Brazilian division and, according to the company, will result in a decrease of $40m in net income and $70m in sales.
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