NEW YORK, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of Masimo Corporation (NASDAQ: MASI)?
- Did you purchase your shares between February 28, 2023 and July 17, 2023, inclusive?
- Did you lose money in your investment in Masimo Corporation?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the common stock of Masimo Corporation (“Masimo” or the “Company”) (NASDAQ: MASI) between February 28, 2023 and July 17, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of California and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Masimo common stock, and/or would like to discuss your legal rights and options please visit Masimo Corporation Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
According to the Complaint, Masimo is a global medical technology company that develops, manufactures, and markets a variety of noninvasive monitoring technologies. In 2022, the Company announced a change in its organizational structure, creating two reportable segments, healthcare and non-healthcare, which were designed to accelerate growth strategies and strengthen the Company’s focus on patient care.
On July 17, 2023, Masimo issued a press release announcing its preliminary revenue results for the second quarter of 2023. Masimo advised that it anticipated revenue of between $453 million and $457 million for the quarter, significantly less than the $540.87 million consensus estimate. Masimo attributed the lower-than-expected revenue to a drop in healthcare revenue caused by delays in large orders, falling single-patient use sensor sales, lower customer conversions and decreasing demand for its products from hospitals.
On this news, Masimo’s common stock declined $29.43 per share, or approximately 20%, to close at $117.73 per share on July 18, 2023.
If you wish to serve as lead plaintiff, you must move the Court no later than October 23, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired Masimo common stock, and/or would like to discuss your legal rights and options please visit Masimo Corporation Shareholder Class Action Lawsuits or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
