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Quentin Koffey

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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Masimo home page

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.

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