NEW YORK, March 21, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Masimo Corporation (NASDAQ: MASI) on behalf of long-term stockholders following a class action complaint that was filed against Masimo on August 22, 2023 with a Class Period from February 28, 2023 to July 17, 2023. Our investigation concerns whether the board of directors of Masimo have breached their fiduciary duties to the company.
During the Class Period, as detailed herein, Masimo and the Defendants made materially false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Masimo’s common stock and operated as a fraud or deceit on Class Period purchasers of Masimo’s common stock by materially misleading the investing public. Later, when Masimo and Defendants’ prior misrepresentations and fraudulent conduct became apparent to the market, the price of Masimo’s common stock materially declined, as the prior artificial inflation came out of the price over time. As a result of their purchases of Masimo’s common stock during the Class Period, Plaintiff and other members of the Class suffered economic loss, i.e., damages under federal securities laws.
Masimo’s stock price fell in response to the corrective event on July 17, 2023, as alleged supra. On July 17, 2023, Defendants disclosed information that was directly related to their prior misrepresentations and material omissions concerning Masimo’s forecasting processes and 2023 full-year financial guidance.
In particular, on July 17, 2023, Masimo reduced the lower end of full year revenue guidance for the healthcare business to $1.30 billion from $1.45 billion. The Company also announced a reduction in annual revenue guidance for the non-healthcare business to $800 million to $850 million from $965 million to $995 million.
If you are a long-term stockholder of Masimo, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
