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MASI.US

Masimo Corporation (MASI) Case on Misleading

S.D. California
Court
3:23-cv-01546
Case number
28 Feb 2023
Class period Start
17 Jul 2023
Class period End
23 Oct 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.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
17 July 2023
Filing date
22 August 2023
Lead Plaintiff Deadline
23 October 2023
Judge
Hon. M. James Lorenz
Collecting participants…
Created by Stan Vick, Scout

Masimo Corporation

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction tech...

    Ticker
    MASI.US
    ISIN
    US5747951003
    CIK
    937556
    Sector
    Healthcare
    Industry
    Medical Devices
    Country
    USA
    Address
    52 Discovery, Irvine, CA, United States, 92618