NEW YORK, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Masimo Corporation (NASDAQ: MASI) alleging that the Company violated federal securities laws.
Class Period: February 28, 2023 to July 17, 2023
Lead Plaintiff Deadline: October 23, 2023
No obligation or cost to you.
Learn more about your recoverable losses in MASI:
https://www.kleinstocklaw.com/pslra-1/masimo-lawsuit-loss-submission-form?id=46485&from=3
Masimo Corporation NEWS - MASI NEWS
CLASS ACTION CASE DETAILS: According to the complaint, defendants provided investors with material information concerning Masimo’s revenue and sales for the second quarter of fiscal 2023 and expected revenue for the full-year 2023. Defendants’ statements included, among other things, Masimo’s ability to deliver clinically proven new products to the healthcare markets thereby supporting defendants’ decision to forecast revenue of $550 million to $565 million for the quarter and increase its earnings-per-share estimates to between $3.59 per share and $3.69 per share. Defendants’ statements in this regard prompted an immediate and dramatic increase in the price of Masimo’s common stock. From a closing price of $167.31 per share on February 28, 2023 at the start of the Class Period, Masimo’s stock price climbed to $184.97 per share the following day on March 1, 2023 on unusually high volume. Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts. On July 17, 2023 Masimo issued a press release announcing its second quarter 2023 earnings. Defendants announced lower than expected revenue for the second quarter of fiscal 2023 and preliminarily decreased full-year revenue estimates for both healthcare and non-healthcare segments. On this news, the price of Masimo’s common stock declined dramatically. From a closing market price of $147.16 per share on July 17, 2023, Masimo’s stock price fell to $117.73 per share on July 18, 2023, a decline of nearly 20% in the span of just a single day.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Masimo you have until October 23, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Masimo securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the MASI lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/masimo-lawsuit-loss-submission-form?id=46485&from=3.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
