Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF MASIMO CORPORATION (NASDAQ: MASI)

Masimo is a global medical technology company that develops, manufactures, and markets a variety of noninvasive monitoring technologies.

A securities fraud class action was recently filed that alleges that Masimo Corporation (NASDAQ: MASI), via certain of its officers and directors, concealed adverse facts related to Masimo’s two core businesses – its traditional healthcare unit and its new Sound United acquisition (non-healthcare unit).

First, it is alleged that Masimo misled the market about the healthcare division’s inability to introduce successful new products to the marketplace that would support Defendants’ revenue forecasts during the relevant period. It is further alleged that Masimo, via certain officers and directors, also concealed that the healthcare business was accumulating excessive inventory of single-use sensors – a key driver of the Company’s financial success – as customers shifted their preferences to using reusable sensors in many care settings to reduce costs.

Second, it is alleged that Masimo misled the market about the Company’s non-healthcare business – Sound United. Despite purchasing Sound United for $1.025 billion in cash, and touting synergies and expansion opportunities for the combined companies, Defendants failed integrating the acquisition and lied about the failure including a known and pervasive lack of internal controls and inadequate accounting practices that hindered Masimo’s Sound United business and presented significant obstacles to a successful integration. Moreover, Defendants hid Sound United’s ballooning inventory costs which prevented it from investing in new products.

Current Masimo shareholders who have held Masimo shares since prior to March 4, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to contact Joshua H. Grabar at jgrabar@grabarlaw.com, or Mia R. Heller at mheller@grabarlaw.com, or call us at 267-507-6085.

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Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF MASIMO CORPORATION (NASDAQ: MASI)

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