Masimo Corp. and its top executives misled investors about projected revenue, providing forecasts that artificially inflated its stock price for six months, a proposed class-action suit says.
The medical technology company and the executives told investors in February that it would be able to deliver new, clinically proven products to healthcare markets to support strong revenue in the second quarter of 2023, but ultimately announced lower revenue than expected in July, according to the complaint filed Tuesday in US District Court for the Southern District of California.
Individual defendants Joe Kiani, the company’s chairman and CEO, and Micah Young ...
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