Masimo Corporation Class Action Lawsuit - MASI
Case Summary
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The Masimo class action lawsuit seeks to represent purchasers or acquirers of Masimo Corporation (NASDAQ: MASI) common stock between February 28, 2023 and July 17, 2023, inclusive (the “Class Period”). Captioned Vazquez v. Masimo Corporation, No. 23-cv-01546 (S.D. Cal.), the Masimo class action lawsuit charges Masimo and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Masimo class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Masimo class action lawsuit must be filed with the court no later than October 23, 2023.
CASE ALLEGATIONS: Masimo is a global medical technology company that develops, manufactures, and markets a variety of noninvasive monitoring technologies.
The Masimo class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Masimo misled investors by creating the false impression that they possessed reliable information pertaining to Masimo’s sales pipeline; (ii) Masimo’s forecasting processes 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; and (iii) Masimo provided materially flawed revenue guidance for fiscal year 2023.
On July 17, 2023, Masimo announced preliminary earnings results for the second quarter of fiscal year 2023 and expected revenue for fiscal year 2023 that fell far short of estimates. On this news, the price of Masimo common stock declined nearly 24% over two trading sessions, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Masimo common stock during the Class Period to seek appointment as lead plaintiff of the Masimo class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Masimo class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Masimo class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Masimo class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.