Masimo Corporation Under Investigation for False ClaimsMasimo Corporation Under Investigation for False Claims NEW YORK (July 08, 2024) – Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Masimo Corporation (NASDAQ: MASI) following allegations of materially misleading business information. Background: On May 7, 2024, Masimo reported that it had received a civil investigative demand from the Department of Justice (DOJ) regarding returns of its Rad-G® and Rad-97® products, including a recall in 2024. Allegations: Rosen Law Firm is investigating whether Masimo: * Misrepresented the extent of customer returns and the related financial impact. * Concealed material facts about the DOJ investigation. * Violated federal securities laws. Investor Impact: Upon the news of the DOJ investigation, Masimo’s stock price dropped $15.98 per share, or 11.75%, to close at $120.02 per share on May 8, 2024, on unusually high trading volume. Legal Action: Rosen Law Firm is preparing a class action lawsuit to recover damages for investors. If you purchased Masimo securities, you may be entitled to compensation without out-of-pocket costs through a contingency fee arrangement. How to Participate: To join the class action, contact: * Phillip Kim, Esq. * toll-free: (866) 767-3653 * email: [email protected] * website: https://rosenlegal.com/submit-form/?case_id=24978 About Rosen Law Firm: Rosen Law Firm is a global investor rights law firm with a successful track record in securities class actions and shareholder derivative litigation. The firm has recovered hundreds of millions of dollars for investors. Its founding partner, Laurence Rosen, has been recognized as a Titan of Plaintiffs’ Bar by Law360. Important Notice: Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Rosen Law Firm, PA 275 Madison Avenue, 40th Floor New York, NY 10016 (212) 686-1060 toll-free: (866) 767-3653 fax: (212) 202-3827 [email protected] https://www.rosenlegal.com
NEW YORK, July 08, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Masimo Corporation (NASDAQ: MASI) resulting from allegations that Masimo may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Masimo securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=24978 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
WHAT IS THIS ABOUT: On May 7, 2024, after market hours, Masimo filed its quarterly report on Form 10-Q with Securities and Exchange Commission (“SEC”) which, among other things, announced that the “Company received a civil investigative demand from the DOJ (Department of Justice) pursuant to the False Claims Act, 31 U.S.C. §§ 3729-3733, dated March 25, 2024, seeking documents and information related to customer returns of the Company’s Rad-G® and Rad-97® products, including returns related to the Company’s recall of select Rad-G® products in 2024.”
On this news, Masimo’s stock price fell $15.98 per share, or 11.75%, to close at $120.02 per share on May 8, 2024, on unusually heavy trading volume.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, PA
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
