NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Masimo Corporation ("Masimo" or the "Company") (NASDAQ:MASI) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Masimo securities between February 28, 2023 and July 17, 2023, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/masi.
The complaint alleges that defendants misled investors by creating the false impression that they possessed reliable information pertaining to the Company's sales pipeline. In reality, defendants' forecasting processes failed to adequately account for potential loss of sensor sales among Masimo's customers, as well as the potential decline in demand for premium and luxury audio categories. Alternatively, defendants deliberately ignored the decline in sales. In either event, defendants misled investors by providing the public with materially flawed revenue guidance for fiscal 2023. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: www.bgandg.com/masi or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Masimo you have until October 23, 2023, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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