LOS ANGELES, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Investors can contact the law firm at no cost to learn more about recovering their losses.
The Portnoy Law Firm advises Masimo Corporation (“Masimo” or the “Company”) (NASDAQ: MASI) investors that a lawsuit filed on behalf of investors that purchased Masimo securities between February 28, 2023 and July 17, 2023, both dates inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On July 17, 2023, medical technology company Masimo announced preliminary financial results for the second quarter of 2023, which revealed revenue figures lower than anticipated and reduced full-year revenue estimates for both its healthcare and non-healthcare segments. Consequently, Masimo's stock price suffered a significant decline of $29.43, marking a 20% drop, and closing at $117.73 per share on July 18, 2023, resulting in financial losses for investors.
The class action complaint filed alleges that during the Class Period, the defendants engaged in making materially false or misleading statements while also omitting crucial adverse facts regarding Masimo's business, operations, and prospects. Specifically, the complaint claims that the defendants provided a misleading impression of their knowledge about the company's sales pipeline, failed to appropriately address the potential loss of sensor sales and a potential drop in demand for certain product categories, overlooked the decline in sales, and consequently, their positive statements regarding the company's prospects lacked a solid foundation and were misleading.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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