According to the Complaint, Masimo is a global medical technology company that develops, manufactures, and markets a variety of noninvasive monitoring technologies.

The Complaint alleges Defendants misled investors by creating the false impression that they possessed reliable information pertaining to the Company’s sales pipeline. 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.

On November 14, 2023, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on February 12, 2024. Defendants filed a Motion to Dismiss the amended Complaint on April 29. On November 5, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.