Masimo Corporation (NASDAQ: MASI)

This lawsuit is for anyone who acquired securities in Masimo Corporation (NASDAQ: MASI) from February 28, 2023 through July 17, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by stating the the Company would see substantial revenue growth without a reasonable basis for making the assertion.

On July 17, 2023, Masimo 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.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Masimo Corporation (NASDAQ: MASI) form February 28, 2023 through July 17, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.