Cision PR Newswire
SHAREHOLDER ALERT: The Law Offices of Vincent Wong Remind Masimo Investors of a Lead Plaintiff Deadline of October 23, 2023
News provided byThe Law Offices of Vincent Wong
Sep 18, 2023, 5:45 AM ET
NEW YORK, Sept. 18, 2023 /PRNewswire/ -- Attention Masimo Corporation ("Masimo") (NASDAQ: MASI) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between February 28, 2023 and July 17, 2023.
If you suffered a loss on your investment in Masimo, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: 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.
DEADLINE: October 23, 2023
Aggrieved Masimo investors only have until October 23, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
SOURCE The Law Offices of Vincent Wong
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