Masimo Corporation (MASI) Case on Misleading

S.D. California

Court

3:23-cv-01546

Case number

02/28/2023

Class period Start

07/17/2023

Class period End

10/23/2023

Lead Plaintiff motion deadline

In July 2023, Masimo reported financial results, missing revenue projections.
$MASI declined about 20%, damaging shareholders. 
Investors suspect Masimo & its Leaders of misleading about their ability to accurately project and deliver expected revenue.
On July 17, 2023, Masimo released preliminary financial results for Q2 2023, revealing lower-than-expected revenue. 

The Company claimed that “large orders that were anticipated for the second quarter were delayed to the second half of the year” and that “single-patient use sensor sales were down due to elevated sensor inventory levels at some customers.” 

On this news, $MASI declined about 20%, damaging shareholders.
Earlier, on February 28, 2023, Masimo announced 2022 financial results and CEO Joe Kiani stated that “2022 was a momentous year for Masimo. Our healthcare business outperformed expectations." 
Kiani and CFO Young provided analysts with detailed information concerning the Company’s ability to deliver clinically proven new products and insight into the Company’s projections for the upcoming year. 
Considering all representations, Investors have reasons to suspect Masimo and its Leaders of failing to disclose material information concerning its inability to accurately project sales and revenue.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

07/17/2023

Filing date

08/22/2023

Lead Plaintiff Deadline

10/23/2023

Judge

Hon. M. James Lorenz

Masimo Corporation (MASI) Case on Misleading

Collecting participants…