BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Masimo Corporation (“Masimo” or the “Company”) (NASDAQ: MASI) common stock between February 28, 2023 and July 17, 2023, inclusive (the “Class Period”). Masimo investors have until October 23, 2023 to file a lead plaintiff motion.
Investors suffering losses on their Masimo investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On July 17, 2023, Masimo released preliminary financial results for the second quarter of 2023, revealing lower-than-expected revenue and decreased full-year revenue estimates for both healthcare and non-healthcare segments.
On this news, Masimo’s stock price fell $29.43, or 20%, to close at $117.73 per share on July 18, 2023, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) misled investors by creating the false impression that they possessed reliable information pertaining to the Company’s sales pipeline; (2) 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; (3) deliberately ignored the decline in sales; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Masimo common stock, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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