Masimo Corp. is suing founder Joe Kiani—who lost a takeover fight last month against Politan Capital Management LP—saying he tried to rig the shareholder vote.
The health technology company—its board led by former Politan nominees—filed a pair of lawsuits against Kiani on Oct. 25. One of the complaints, in Delaware, isn’t yet publicly available. The other, in a federal court in Manhattan, says Kiani and RTW Investments LP colluded on an “empty voting” scheme aimed at manipulating the company’s board election.
The maneuver involves a stockholder artificially increasing its voting power by simultaneously buying stock and acquiring an ...
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