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ASHER v. BAXTER INTERN. INC.

No. 03-3189.

377 F.3d 727 (2004)

Brian ASHER, et al., Plaintiffs-Appellants, v. BAXTER INTERNATIONAL INCORPORATED, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided July 29, 2004.

As Amended September 3, 2004.

Rehearing and Rehearing Denied September 3, 2004.

Attorney(s) appearing for the Case

Barry A. Weprin (argued), Milberg, Weiss, Bershad & Schulman, New York, NY, for Plaintiffs-Appellants.

Matthew R. Kipp (argued), Skadden, Arps, Slate, Meagher & Flom, Chicago, IL, for Defendants-Appellees.

Before EASTERBROOK, MANION, and ROVNER, Circuit Judges.

Rehearing and Rehearing En Banc Denied September 3, 2004.

EASTERBROOK, Circuit Judge.

Baxter International, a manufacturer of medical products, released its second-quarter financial results for 2002 on July 18 of that year. Sales and profits did not match analysts' expectations. Shares swiftly fell from $43 to $32. This litigation followed; plaintiffs contend that the $43 price was the result of materially misleading projections on November 5, 2001, projections...

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