A lawsuit was filed on behalf of investors in Masimo Corporation (NASDAQ: MASI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/06/2023 -- An investor, who purchased shares of Masimo Corporation (NASDAQ: MASI), filed a lawsuit over alleged violations of Federal Securities Laws by Masimo Corporation.
Investors who purchased shares of Masimo Corporation (NASDAQ: MASI) have certain options and for certain investors are short and strict deadlines running. Deadline: October 23, 2023. NASDAQ: MASI investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Irvine CA based Masimo Corporation develops, manufactures, and markets noninvasive monitoring technologies and hospital automation solutions worldwide.
On July 17, 2023, Masimo Corporation released preliminary financial results for the second quarter of 2023, revealing lower-than-expected revenue. The Company claimed that "[l]arge orders that were anticipated for the second quarter were delayed to the second half of the year" and that "[s]ingle-patient use sensor sales were down due to . . . [e]levated sensor inventory levels at some customers."
Shares of Masimo Corporation (NASDAQ: MASI) declined from $198 per share in April 2023, to as low as $107.24 per share on August 16, 2023.
The plaintiff alleges on behalf of purchasers of Masimo Corporation (NASDAQ: MASI) common shares between February 28, 2023 and July 17, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 28, 2023 and July 17, 2023, the defendants misled investors by creating the false impression that they possessed reliable information pertaining to the Company's sales pipeline, and that the Defendants' 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.
Those who purchased shares of Masimo Corporation (NASDAQ: MASI) have certain options and should contact the Shareholders Foundation.
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