Investigation announced for Long-Term Investors in shares of Masimo Corporation (NASDAQ: MASI)

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An investigation into possible fiduciary duty breaches by specific Masimo Corporation directors and officials was announced on behalf of current long-term investors in the company’s shares (NASDAQ: MASI).

Current long-term investors in Masimo Corporation (NASDAQ: MASI) shares have options. They can reach out to the Shareholders Foundation via phone at +1(858) 779-1554 or by email at [email protected].

Masimo Corporation, situated in Irvine, California, is a global manufacturer, distributor, and developer of hospital automation solutions and noninvasive monitoring technology.

Using its blood oxygen monitoring technology in Apple Watches, Masimo Corporation filed a lawsuit against Apple in April 2020. Masimo Corporation didn’t have a blood-oxygen sensor on the market when it filed its first lawsuit. But after eight months, the industry-discussed feature known as pulse oximetry was added to the Apple Watch Series 6, which prompted Masimo Corporation to file a second complaint with the US International Trade Commission in 2021, claiming that the feature violated its patents.

Prior to the market opening on February 28, 2023, Masimo Corporation released its financial results for the fourth quarter and the entire year 2022. Masimo’s financial guidance for the first quarter and full year of 2023 was also disclosed in the statement.

Masimo released a press release on May 9, 2023, ahead of market opening, revealing its financial results for the first quarter of 2023.

Then, on July 17, 2023, Masimo Corporation revealed lower-than-expected sales in its preliminary financial results for the second quarter of 2023. The company stated that [single-patient use sensor sales were down because of [e]levated sensor inventory levels at some clients, and that [l]arge orders that were scheduled for the second quarter were postponed to the second half of the year.

A law company representing long-term investors in NASDAQ: MASI stocks has launched an inquiry in response to a lawsuit Masimo Corporation was sued for allegedly breaking securities laws. Investigating whether specific directors of Masimo Corporation are accountable for the claims made in that case is the goal of the current long-term investors in NASDAQ: MASI stocks.

An investor filed a lawsuit in the U.S. District Court for the Southern District of California on August 22, 2023, alleging that Masimo Corporation had violated federal securities laws in relation to some false and misleading statements made between February 28, 2023, and July 17, 2023. The plaintiff in that complaint claims that the defendants deceived investors into believing they had accurate information about the company’s sales pipeline and that their forecasting procedures did not fully account for the possibility of sensor sales declining among Masimo’s clientele as well as the possibility of a decline in demand for premium and luxury audio categories.

The U.S. International Trade Commission then declared in October 2023 that certain Apple Watches infringed upon Masimo’s patents for the blood oxygen capability, which Apple has incorporated into the majority of its smartwatches since 2020. The technology-equipped timepieces were to be prohibited from being imported by the commission as of December 26, 2023. After losing a patent dispute over whether it had improperly imitated the technology of another company, Apple announced this week that it will be removing two of its newest smartphone watches off retail shelves. Thus far, Masimo’s legal battle with Apple has cost the business over $100 million.

On Thursday, January 18, 2024, new models of the Series 9 and Ultra 2 that lack those functions will go on sale, according to an announcement made by Apple.

A revised complaint was submitted on February 12, 2024.

Shareholders Foundation should be contacted by those who bought shares of Masimo Corporation (NASDAQ: MASI), as they have specific alternatives.

Contact: +1-(858)-779-1554; Christopher Clausen, Shareholders Foundation, Inc., 3111 Camino Del Rio North, Suite 42392108, San Diego(858)[email protected] is the fax number.

About The Shareholders Foundation, Inc.: We are a professional portfolio monitoring and settlement claim filing service that keeps investors informed about securities class actions, settlements, judgments, and other legal news pertaining to the stock and financial markets. We also conduct research on shareholder issues. With a vast network of contacts, Shareholders Foundation, Inc. provides support, guidance, and aid to each and every shareholder. It is not a law firm, The Shareholders Foundation, Inc. The Shareholders Foundation is not involved in the filed, reached, or settled cases, investigations, or settlements mentioned. The public is offered this information as a service. It should not be relied upon and is not meant to be legal advice.

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