Grabar Law Office Investigates Claims on Behalf of Shareholders of Masimo Corporation (MASI)

Philadelphia, Pennsylvania--(Newsfile Corp. - February 22, 2024) - A securities fraud class action was recently filed that alleges that Masimo Corporation (NASDAQ: MASI), via certain of its officers and directors, concealed adverse facts related to Masimo's two core businesses - its traditional healthcare unit and its new Sound United acquisition (non-healthcare unit).

First, it is alleged that Masimo, via certain of its officers and directors, misled the market about the healthcare division's inability to introduce successful new products to the marketplace that would support Masimo's revenue forecasts and also concealed that Masimo's healthcare business was accumulating excessive inventory of single-use sensors - a key driver of the Company's financial success - as customers shifted their preferences to using reusable sensors in many care settings to reduce costs.

Second, it is alleged that Masimo, via certain of its officers and directors, misled the market about the Company's non-healthcare business - Sound United in that while Masimo purchased Sound United for $1.025 billion in cash, and touted synergies and expansion opportunities for the combined companies, Masimo failed to properly integrate the acquisition and hid a known and pervasive lack of internal controls and inadequate accounting practices, as well as ballooning inventory costs that hindered Masimo's Sound United business.

Current Masimo shareholders who have held Masimo shares since prior to March 4, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/masimo-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or Mia R. Heller at mheller@grabarlaw.com, or call us at 267-507-6085. #Masimo $MASI

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198886