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MASI.US
id: 807
Masimo Corporation (MASI) Case on Misleading
S.D. California
Court3:23-cv-01546
Case number02/28/2023
Class period Start07/17/2023
Class period End10/23/2023
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