In a recent filing with the Securities and Exchange Commission, the new Masimo (Nasdaq: MASI) Board of Directors reaffirmed its non-GAAP 3Q and full-year financial guidance as previously provided by the company to investors. It also notified the commission that the Board has officially terminated the employment of former CEO Joe Kiani.
Perhaps most surprisingly, it has additionally filed a major lawsuit against Joe Kiani and RTW Investments alleging, among other things, that they colluded to create a group that violated federal securities laws.
It has been a busy four weeks or so since the Masimo Corporation 2024 Annual Stockholders Meeting in late September. After a pitched, tense, and at times quite nasty proxy battle in the weeks leading up to this event, investors rejected the company’s Board nominees, voting instead to elect Dr. Darlene Solomon and William Jellison – both of whom were nominated by activist investor Quentin Koffey and Politan Capital Management. The value of Masimo stock immediately rose in the wake of this news.
Shortly after the stockholders meeting, the company announced that Chairman, CEO, and Founder Joe Kiani had resigned from the medical products company he founded. Kiani also filed a lawsuit against the company in an attempt to force its payment of his contract, which is said to be worth around $400 million.
The...
Actress Rozlyn Khan lashes out at Navjot Singh Sidhu for false claims on cancer cure, video goes viral all over the internet!