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Masimo COO Sends Conditional Letter of Resignation to the Board

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Masimo COO Bilal Muhsin

Bilal Muhsin Has ‘No Intention of Remaining’…’If Quentin Koffey…Take[s] Control’

In a new filing with the Securities and Exchange Commission (SEC), Masimo Corporation (Nasdaq: MASI) reveals that Bilal Muhsin, its Chief Operating Officer (COO) has sent a conditional letter of resignation to the Board of Directors. The move is yet another escalation in the proxy war for control of the company between Masimo management and activist investment group Politan Capital Management – one of the company’s largest shareholders that already holds two seats on its Board.

See more on this resignation of the Masimo COO

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It May Be Hot in NJ, But the Country is Hit by a Blizzard of Masimo Filings

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Masimo from proxy website

Politan: Sound United Must Go

The annual Masimo (Nasdaq: MASI) shareholder meeting is now just four weeks away, and on Wednesday we saw a blizzard of proxy filings by both Masimo management and activist investor Politan Capital Management. The gloves are off and the pugilists are swinging. But how is this fight shaping up? Who has the upper hand?

See more on the Masimo vs. Politan proxy battle

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MESSY-mo! Masimo is a Mess – Proxy War, Board Battles, Spin-Off Conflict, Whole Co. Up for Sale, JV Partner Emerges, DOJ & SEC Investigations

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Masimo proxy cover image

The Future of Sound United Continues to Hang in the Balance

SEE STORY UPDATE NEAR END – It is total pandemonium in Masimo land as the company and Politan are engaged in a massive and really, really ugly proxy war ahead of the company’s annual meeting scheduled for July 25, 2024, at the Masimo headquarters in Irvine, CA. Details in dueling proxy filings so far have revealed many things we didn’t know up to now. And almost none of what has been revealed…is good.

Company CEO Kiani is in a fight for his professional life…Sound United is dangling in the wind of an uncertain future – and, frankly, even the entire company’s path forward is a question mark.

See More on matters at Masimo and the Sound United situation…

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Masimo Announces Double-Digit Drop in Revenues & Profits; Reveals Spin-Off Plans

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Masimo headquarters

Company Reveals Initial Plans for Spinning off Sound United Biz

Masimo Corporation (Nasdaq: MASI), yet another company in Tech that reported their financial results for the first quarter of Fiscal 2024 after the close of business on Tuesday, revealed that both revenues and profits had declined double-digit percentages in the quarter. What was remarkable about this result is that Masimo CEO Joe Kiani said in a statement in the release about the Q1 results that the company is “reaching a steady state.”

Investors apparently didn’t see it that way, as shares in MASI stock dropped almost 12% on Wednesday, the next trading day after the announcement.

See more on the Masimo Q1, Fiscal 2024 report

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Apple Files Massive Appeal; Asks Court to Overturn ITC Ban in Masimo Win

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Header for Apple Inc., v. International Trade Commission ITC & Masimo

A Heavyweight Case; 916 Pages Heavy, That Is

Last Friday, Apple, Inc. filed a massive appeal with the U.S. Appeals Court for the Federal Circuit asking the judges to overturn the ruling of the United States International Trade Commission (ITC) which sided with Masimo and ordered a ban on sales of certain models of the Apple Watch. The filing runs an impressive 916 pages long and cites multiple elements of the ITC ruling, telling the Federal Court that the commission “…both exceeded its authority and issued a series of flawed substantive rulings.”

Apple says: ‘The Commission’s decision cannot stand.’

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Masimo Management Slaps Politan & Koffey Back; Decries ‘False Claims’

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Masimo logo

In a Dispute About Sound United, The Parties Don’t Sound United

Masimo Corporation (Nasdaq: MASI) announced on Monday that it could confirm that activist investment group Politan Capital Management – whose founder and Chief Investment Officer is Quentin Koffey – has provided it with notice of its intent to nominate two candidates to stand for election to the company’s Board of Directors at its upcoming 2024 Annual Meeting. This action by Politan, management says, “run[s] counter to the stockholders’ best interests…”

Oh-oh…the knives are coming out…

See more on Masimo’s response to Politan and Koffey

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Masimo Drama Intensifies as Activist Investor Nominates 2 More Directors

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Politan’s Koffey Makes Move to Seize Control of Company

One business day after Masimo Corp. [Nasdaq: MASI] announced plans for a spin-off of its Consumer division, the business unit formed by the acquisition of Sound United, activist investor Politan Capital Management and its CIO Quentin Koffey – a current Masimo Director – announced the nomination of two more independent director candidates for the Board of Directors. In a statement accompanying the announcement, Koffey takes the gloves off alleging Board dysfunction, uncooperative management, and says Kiani’s desire for control “is troubling.”

Pop a fresh bowl of popcorn and settle into a comfortable chair…things are getting pretty interesting in this story of escalating boardroom and management drama.

See more on the rising drama at Masimo

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Masimo Fiscal 2023 Q4 & Full Year Results Show Continued Drop in Consumer Spending on Audio

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Masimo Fiscal 2023 results

Masimo Corporation (Nasdaq: MASI) announced on Tuesday its financial results for the fourth quarter and full year of fiscal 2023, the period that ended December 30, 2023. Results were mixed with revenues down double digits in the quarter but flat for the year. But a more sobering picture emerged for the “non-healthcare” division, also known as Masimo Consumer, which is the division that was formed when the company acquired Sound United almost exactly two years ago.

Learn more about the Masimo results for fiscal 2023 and the fourth quarter

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In Huge Win for Masimo, ITC Bans Certain Apple Watch Imports for Trade Law Violations

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Masimo Freedom Watch

Masimo Corporation (NASDAQ: MASI) scored a big win Thursday in its ongoing battles with Apple, Inc. when the United States International Trade Commission (USITC or ITC) sided largely with Masimo and issued a Limited Exclusion Order and a Cease and Desist Order against certain Apple Watch models that infringe on select Masimo patents. This exclusion order bans the import of those models that incorporate Masimo’s patented light-based pulse oximetry technology in violation of U.S. trade laws.

See more on Masimo’s stunning ITC victory over Apple

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Masimo CEO: ‘We are Disappointed with Our Results This Quarter’

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Masimo slide from their Q2 fiscal '23 quarterly earnings presentation

Masimo Corporation (Nasdaq: MASI) (Masimo) announced the final financial results for the second quarter of fiscal 2023, the 90-day period that ended on July 1, 2023. About three weeks ago, the company released a preliminary report on the quarter, alerting investors to an unexpected drop in revenues. As they predicted, revenues did decline, although not as poorly as they suggested might be the case.

See the actual Masimo results for the second quarter of fiscal 2023

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