Baxter Fair Fund - Frequently Asked Questions (2024)

You or someone in your family may have purchased or acquired Baxter International common stock during the period from May 6, 2015, through October 23, 2019, inclusive.

You may review a copy of the Plan Notice here.

The Baxter Fair Fund has been established in the three Securities and Exchange Commission administration proceedings set forth on the Home Page of this website. You can read more about the proceedings and view the distribution plan approved by the Commission on the Home Page of this website or at: https://www.sec.gov/enforcement/information-for-harmed-investors/baxter.

By the distribution plan, the Securities and Exchange seeks to compensate investors who were harmed in connection with Baxter’s improper leveraging of its foreign exchange rate convention by engaging in intra-company transactions for the purpose of generating foreign exchange accounting gains or avoiding foreign exchange accounting losses. As calculated using the methodology detailed in the Plan of Allocation, investors will be compensated based on their losses on shares of Baxter International common stock (the “Security”) purchased and/or acquired from May 6, 2015 through October 23, 2019, inclusive.

The Baxter Securities Litigation Class Action involves allegations that, during the period from February 21, 2019 through October 23, 2019, Defendants made misrepresentations and omissions concerning: (i) Baxter’s income related to foreign exchange fluctuations, as well as other financial metrics reflecting that income item; (ii) Baxter’s compliance with generally accepted accounting principles; and (iii) Baxter’s internal controls over financial reporting. More complete details on the background of the case can be found in the Notice or in other Court documents available for review on the settlement website: www.BaxterSecuritiesLitigation.com.

If you submitted a claim in connection with the Class Action, see FAQ 7 below.

If you did not submit a claim in connection with the Class Action, see FAQ 11 below.

The Baxter Fair Fund includes the $18,314,359.00 paid by Baxter, Jeffrey Schaible, and Scott Bohaboy. The Baxter Fair Fund has been deposited at the United States Department of the Treasury for investment. Accrued interest and any assets directed to the Baxter Fair Fund by Court or Commission order or otherwise, shall be added to, and become a part of, the Baxter Fair Fund.

Epiq Systems (“Epiq”) has been appointed as the Fund Administrator of the Baxter Fair Fund to assist in overseeing the administration of the distribution of the Baxter Fair Fund.

The Fund Administrator will be responsible for administering the Baxter Fair Fund in accordance with the Plan. This will include, among other things, taking reasonable steps to identify and contact Preliminary Claimants; obtaining mailing information for Preliminary Claimants; establishing a website and staffing a call center to address inquiries during the claims process; developing a claims database; preparing accountings; cooperating with the tax administrator appointed by the Commission to satisfy any tax liabilities and to ensure compliance with income tax reporting requirements, including but not limited to Foreign Account Tax Compliance Act (FATCA); advising Preliminary Claimants of deficiencies in claims and providing an opportunity to cure any documentary defects; taking antifraud measures, such as identifying false, ineligible and overstated claims; making determinations under the criteria established herein as to Preliminary Claimant eligibility and Recognized Losses; advising Preliminary Claimants of final claim determinations; disbursing the Baxter Fair Fund in accordance with this Plan, as ordered by the Commission; and researching and reconciling errors and reissuing payments, when possible.

The Relevant Period is May 6, 2015 through October 23, 2019, inclusive.

In general, if you submitted a claim in connection with the related class action, Class Action, In Re Baxter International Inc. Securities Litigation, Case No. 1:19‑cv‑07786 (N.D. III.) (the “Class Action”) and are uncertain what your Claim status is, then you can determine the status of your Class Action Claim by reviewing which form(s) have been included with the Plan Notice that you have been sent.

If the claim that you submitted in connection with the Class Action was accepted in the Class Action, the Plan Notice that you receive will include a copy of the Taxpayer Certification Form. For information on what you need to do if your Class Action Claim was accepted, see FAQ 8 below.

If the claim that you submitted in connection with the Class Action was determined to be deficient due to a curable deficiency in that action, the Plan Notice that you receive will include (only) a copy of the Taxpayer Certification Form and a copy of the Claim Deficiency Notice. For information on what you need to do if your Class Action Claim was deficient see FAQ 9 below.

If the claim that you submitted in connection with the Class Action was denied due to a deficiency(ies) that was not curable, the Plan Notice that you may receive will include a copy of the Taxpayer Certification Form for the Baxter Fair Fund and a copy of the Taxpayer Certification Form. For information on what you need to do if your Class Action Claim was denied, see FAQ 10 below.

If you are still not certain whether a claim that you submitted in connection with the Baxter Class Action was accepted, you may contact the Fund Administrator for the Baxter Fair Fund to speak with a live representative by calling 844-787-6813 (toll-free), or by email at Info@BaxterFairFundDistribution.com.

If the claim that you submitted in connection with the Baxter Class Action was accepted, a Taxpayer Certification Form was included with the Plan Notice that you received. You will not need to file a claim in connection with the Baxter Fair Fund unless you want to modify your existing claim, but you must complete, sign, and submit the Taxpayer Certification Form that has been included with the Plan Notice. The Taxpayer Certification Form is to ensure that the Baxter Fair Fund can comply with its reporting and/or withholding obligations and must be returned to the Fund Administrator at Baxter Fair Fund, P.O. Box 6700, Portland, OR 97228-6700 OR submitted online by clicking here.

If you want to modify the claim that you submitted in connection with the Class Action, you should file a new claim in connection with the Baxter Fair Fund. You may download a copy of the Claim Form by clicking here or request that the Fund Administrator mail you a Claim Form by calling 844-787-6813 (toll-free); emailing Info@BaxterFairFundDistribution.com; or writing to Baxter Fair Fund, Fund Administrator, P.O. Box 6700, Portland, OR 97228-6700. Your completed Claim Form must be submitted so that it is postmarked on or before March 8, 2024; submitted online on or before March 8, 2024; or otherwise submitted, so that it is received by the Fund Administrator on or before March 8, 2024.

You may complete and submit a web-based Claim Form through this website by clicking here.

If you are still not certain whether a claim that you submitted in connection with the Baxter Class Action was accepted, you may contact the Fund Administrator for the Baxter Fair Fund to speak with a live representative by calling 844-787-6813 (toll-free), or by email at Info@BaxterFairFundDistribution.com.

If the claim you filed in connection with the Class Action has a deficiency(ies) that need to be cured for your claim to be considered, a Claim Deficiency Notice and a Taxpayer Certification Form was included in the Plan Notice that was mailed to you. The Claim Deficiency Notice will contain the specific defects in your claim and how to resolve them.

If you received a Claim Deficiency Notice with the Plan Notice, you must correct the deficiency(ies) listed in the Claim Deficiency Notice that you received in order to be eligible to share in the distribution of the Baxter Fair Fund. If you wish to modify your Class Action claim in anyway not listed in Claim Deficiency Notice, you must submit a Claim Form for the Baxter Fair Fund.

You may complete and submit an online Claim Form for the Baxter Fair Fund, download a copy of the Claim Form here, or request that the Fund Administrator mail you a Claim Form by calling 844-787-6813 (toll-free); emailing Info@BaxterFairFundDistribution.com; or writing to Baxter Fair Fund, Fund Administrator, P.O. Box 6700, Portland, OR 97228-6700. The completed claim form for the Baxter Fair Fund must be submitted so that it is postmarked on or before March 8, 2024; submitted online on or before March 8, 2024; or otherwise submitted so that it is received by the Fund Administrator on or before March 8, 2024.

If the claim you filed in connection with the Class Action was denied and you received a copy of the Claim Form for the Baxter Fair Fund with the Plan Notice that you received in the mail, then you must submit a Claim for the Baxter Fair Fund if you wish to be considered for a payment from the Baxter Fair Fund. Specifically, if you purchased or otherwise acquired shares of Baxter International common stock during the period of May 6, 2015 through October 23, 2019, inclusive and believe you suffered a loss from that acquisition, and you are not an excluded party, then you should submit a claim for the Baxter Fair Fund.

You may complete and submit an online Claim Form by clicking here, download a copy of the Claim Form here, or request that the Fund Administrator mail you a Claim Form by calling 844-787-6813 (toll-free); emailing Info@BaxterFairFundDistribution.com; or writing to Baxter Fair Fund, Fund Administrator, P.O. Box 6700, Portland, OR 97228-6700.

Your completed Claim Form must be submitted so that it is postmarked on or before March 8, 2024; submitted online on or before March 8, 2024; or otherwise submitted, so that it is received by the Fund Administrator on or before March 8, 2024.

Yes, the Baxter Fair Fund was established by the Securities and Exchange Commission to compensate investors who were harmed by the conduct described in the three administrative actions captioned on the Home Page of this website.

If you purchased or otherwise acquired shares of Baxter International common stock during the period of May 6, 2015 through October 23, 2019, inclusive and believe you suffered a loss from that acquisition, and you are not an excluded party, and you did not file a claim in the Baxter Securities Litigation Class Action, then you must submit a claim for the Baxter Fair Fund.

You may complete and submit an online Claim Form by clicking here. You may otherwise download a copy of the Claim Form here, or request that the Fund Administrator mail you a Claim Form by calling 844-787-6813 (toll-free); emailing Info@BaxterFairFundDistribution.com; or writing to Baxter Fair Fund, Fund Administrator, P.O. Box 6700, Portland, OR 97228-6700.

Your completed Claim Form must be submitted so that it is postmarked on or before March 8, 2024; submitted online on or before March 8, 2024; or otherwise submitted so that it is received by the Fund Administrator on or before March 8, 2024.

If you purchased or otherwise acquired shares of Baxter International common stock during the period from May 6, 2015 through October 23, 2019, are not excluded from the Baxter Fair Fund an “Excluded Party” (as defined in the Plan and set forth in FAQ 13 below), and suffered a loss according to the Plan, you may be eligible for a payment from the Baxter Fair Fund. In order to be considered for eligibility for a payment from the Baxter Fair Fund, you must have filed a claim in the related Class Action (In Re Baxter International Inc. Securities Litigation, Case No. 1:19‑cv‑07786 (N.D. III.) (“Class Action”)) that was accepted and submitted a Taxpayer Certification Form to the Fund Administrator (see FAQ 8); filed a claim in the Class Action and received a Claim Deficiency Notice with your Plan Notice in connection with the Baxter Fair Fund, and submitted a response to the Claim Deficiency Notice and a Tax Certification Form to the Fund Administrator (see FAQ 9); submitted a Claim Form in connection with the Baxter Fair Fund no later than March 8, 2024 (see FAQ 10 and FAQ 11).

You can read more about the proceedings and view the plan at: https://www.sec.gov/enforcement/information-for-harmed-investors/baxter.

The following parties are excluded from receiving any recovery from the Baxter Fair Fund and cannot be considered Eligible Claimants: (i) Baxter International, Inc., Jeffrey Schaible, and Scott Bohaboy (collectively, the “Respondents) (ii) Present or former officers or directors of Respondents or any assigns, creditors, heirs, distributees, spouses, parents, dependent children or controlled entities of any of the foregoing Persons or entities; (iii) Any employee or former employee of the Respondents or any of its affiliates who has been terminated for cause or has otherwise resigned, in connection with the conduct described in the Orders; (iv) Any Person who, as of the Claims Bar Date, has been the subject of criminal charges related to the conduct described in the Orders or any related Commission action; (v) Any firm, trust, corporation, officer, or other entity in which any Respondent has or had a controlling interest; (vi) The Fund Administrator, its employees, and those Persons assisting the Fund Administrator in its role as the Fund Administrator; (vii) Any purchaser or assignee of another Person’s right to obtain a recovery from the Baxter Fair Fund for value; provided, however, that this provision shall not be construed to exclude those Persons who obtained such a right by gift, inheritance or devise; and (viii) Any person who is confirmed by the Fund Administrator to be subject to sanctions by the United States government, as determined by Executive Orders, the authority of the Department of the Treasury’s Office of Foreign Asset Control (OFAC) or any other applicable laws of the United States.

You may contact the Fund Administrator by calling 844-787-6813 (toll-free); via email at Info@BaxterFairFundDistribution.com; or by writing to Baxter Fair Fund, Fund Administrator, P.O. Box 6700, Portland, OR 97228-6700 for more information.

The CUSIP for Baxter International common stock during the Relevant Period was 071813109. The ticker symbol is BAX.

At this time, it is not possible to determine the amount of any individual payment because the amount will depend on a variety of factors, as further described in the approved distribution plan. In order for a claim to be paid, the Distribution Amount must equal or exceed $10.00.

As a long-established firm, Epiq's electronic systems, software applications, and employee and operational protocols are all designed to protect and secure the case information provided to us. Further, Epiq is obligated to fulfill the security requirements mandated by the various court jurisdictions and governmental entities that oversee the various types of cases it administers.