Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Masimo Corporation (“Masimo” or the “Company”) (NASDAQ: MASI) common stock between February 28, 2023 and July 17, 2023, inclusive (the “Class Period”). Masimo investors have until October 23, 2023 to file a lead plaintiff motion.
If you suffered a loss on your Masimo investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Masimo-Corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
On July 17, 2023, Masimo released preliminary financial results for the second quarter of 2023, revealing lower-than-expected revenue and decreased full-year revenue estimates for both healthcare and non-healthcare segments.
On this news, Masimo’s stock price fell $29.43, or 20%, to close at $117.73 per share on July 18, 2023, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) misled investors by creating the false impression that they possessed reliable information pertaining to the Company’s sales pipeline; (2) failed to adequately account for potential loss of sensor sales among Masimo’s customers, as well as the potential decline in demand for premium and luxury audio categories; (3) deliberately ignored the decline in sales; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Masimo common stock during the Class Period, you may move the Court no later than October 23, 2023 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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