Masimo Corp.'s “empty voting” claims against ousted founder Joe Kiani are a pretext for rejecting his $450 million severance demand after Politan Capital Management LP seized board control, according to an investment firm involved in the court fight.
RTW Investments LP moved to exit a federal securities lawsuit brought by the health technology company, one of several cases spawned by the proxy battle. Kiani and his ex-company—now directed by the hedge fund’s former board nominees—are also locked in parallel litigation over the severance payment in Delaware and California.
The empty voting claim is “a public relations stunt” dreamed up by ...
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