Masimo’s $33.8 Million Investor Settlement Gets First Court Nod

Masimo Corp.‘s nearly $33.8 million settlement garnered a federal court’s preliminary approval to resolve investor allegations that the medical technology company and top executives overhyped financial projections following a 2022 acquisition.

Magistrate Judge Daniel E. Butcher preliminarily approved a settlement class of those who got Masimo stock from May 4, 2022, through Aug. 8, 2023, while providing his initial blessing of the deal Monday. If finally approved by the US District Court for the Southern District of California magistrate judge, the investor accord would end about two-and-a-half years of litigation against Masimo, its billionaire founder Joe Kiani, and ...