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Quentin Koffey

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

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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 Shareholders Elect Politan Nominees to Board; Sound United Future is Cloudy

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Politan director nominees who won their seat on the board

Masimo Corp. [NASDAQ: MASI] shareholders voted to elect two new independent board candidates nominated by activist investor Politan Capital Management, including Politan’s Chief Investment Officer Quentin Koffey, as reported by Reuters. The election took place on Monday, June 26th at the annual stockholder’s meeting, and it was announced late in the day that the Politan candidates prevailed.

The news is a shocking repudiation of the existing Masimo Board and CEO Joe Kiani – and it puts Sound United’s future with the company in serious doubt.

Learn more about Masimo stockholders voting with Politan

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Masimo in Massive Proxy War with Politan; Future of Sound United Hangs in the Balance

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Cover of a Masimo investor presentation
Cover of Masimo investor presentation

These are turbulent times at Masimo Corp. [NASDAQ: MASI] as the company continues its pitched battles against Apple Inc. for patent infringement and against activist investment group Politan Capital Management which seeks two Board seats for new oversight at the company. Mailings to MASI investors began in early May and continue to increase in frequency – and intensity – in the days leading up to the company’s Annual Meeting of Stockholders on June 26, 2023.

What’s it all about? Largely, it is about Masimo’s $1 billion acquisition of Sound United (now Masimo Consumer) which caused the company’s market value to drop over $5 billion the day after the acquisition was announced. It appeared to be a clear repudiation of the management strategy by Masimo investors.

Learn more on the proxy war with Politan and what it means for Sound United

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Masimo Acquisition of Sound United Spurs Ugly Activist Shareholder Lawsuit

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Will Sound United End Up on the Chopping Block as One of Kiani’s Follies?

Politan Capital Management LP filed an amended Schedule 13D to report to the Securities and Exchange Commission (SEC) two important actions the activist investment company had recently taken. One of those actions was that it had increased its holdings of Masimo Corporation (NASDAQ: MASI) to 4,648,869 shares or nearly 9% of the company’s outstanding shares – making it a significant owner. And the second action? Politan has filed a “Verified Complaint” against the company and its Board of Directors – and boy, that complaint is a doozy!

See the details of Politan’s lawsuit against Masimo Corp.

[Read more…] about Masimo Acquisition of Sound United Spurs Ugly Activist Shareholder Lawsuit