Last week, a jury was convened for a special trial to determine reasonable damages in the matter of GeigTech East Bay LLC v. Lutron Electronics Co., Inc. GeigTech, the plaintiff in this case is the manufacturer of motorized shade products marketed under the J Geiger brand, an independent company owned by Savant (and which is not a party to this litigation). Lutron has already been found to have infringed on certain patents held by Geigtech and the original jury’s large damages award was set aside by the judge who found it to be excessive. This new trial was held to determine a more reasonable damages amount.
Law
Masimo Terminates Kiani’s Employment; Files Lawsuit Alleging He Violated Securities Law
In a recent filing with the Securities and Exchange Commission, the new Masimo (Nasdaq: MASI) Board of Directors reaffirmed its non-GAAP 3Q and full-year financial guidance as previously provided by the company to investors. It also notified the commission that the Board has officially terminated the employment of former CEO Joe Kiani.
Perhaps most surprisingly, it has additionally filed a major lawsuit against Joe Kiani and RTW Investments alleging, among other things, that they colluded to create a group that violated federal securities laws.
See more on this latest filing with the SEC by the new Masimo Board of Directors
[Read more…] about Masimo Terminates Kiani’s Employment; Files Lawsuit Alleging He Violated Securities LawSee Why Apple’s Patent Win is Actually a Victory for Masimo
More patent decisions are being handed down as several long-running patent lawsuits between Masimo Corporation (Nasdaq: MASI) and Apple Incorporated (Nasdaq: AAPL) wrap up. Last week, a jury in the matter of Apple Inc. (Plaintiff) v. Masimo Corporation and Sound United LLC (Defendants) rendered a verdict on a case where Apple accused Masimo of infringing on six of its Apple Watch patents.
Technically, Apple got a win…but realistically, it was a huge victory for Masimo.
See the outcome of Apple v. Masimo in Delaware court
[Read more…] about See Why Apple’s Patent Win is Actually a Victory for MasimoSplit Decision: A Masimo Win and an Apple Win in High Stakes Legal War
While many things have changed in the wake of Joe Kiani’s exit from Masimo Corporation (Nasdaq: MASI) – and many more changes are likely still to come – one thing continues on, the many lawsuits existing between Masimo and Apple Inc (Nasdaq: AAPL). And in the last few days, we have learned of two significant developments in that regard. One is a significant win for Masimo…and the other a significant win for Apple.
However, the war between these combatants continues…
Learn more about these recent legal decisions in the battle of Masimo and Apple
[Read more…] about Split Decision: A Masimo Win and an Apple Win in High Stakes Legal WarMasimo: Elvis Has Left the Building; New Management Gets to Work
In a public press release and a filing with the Securities and Exchange Commission (SEC), Masimo Corporation (Nasdaq: MASI) revealed that CEO, Chairman and Founder Joe Kiani resigned his position as CEO on September 19, 2024, in the wake of learning that William Jellison and Darlene Solomon, both Politan nominees, had been elected to the Board of Directors by a decisive margin. The Board has appointed an interim CEO and launched a search for a new permanent CEO.
See all the latest Masimo news as a new day dawns at the company
[Read more…] about Masimo: Elvis Has Left the Building; New Management Gets to WorkThe Vote is In, Politan Wins the Proxy War; Both Its Nominees are Elected to the Masimo Board
As Politan Prevails, Board Chairman Joe Kiani Loses His Board Seat & Maybe More
It was a long bloody battle and the outcome was less predictable this time around, due to allegations of vote manipulation and a high intensity – if often misguided – vigorous defense put on by Masimo CEO Joe Kiani and his management team. But now we know the result – Masimo shareholders voted in both of the Politan-backed candidates for nomination to the Board in a sweeping win for activist investor Quentin Koffey and Politan Capital Management. Chairman Joe Kiani, on the other hand, lost his Board seat.
See more about the big changes coming to Masimo thanks to the win by Koffey and Politan
[Read more…] about The Vote is In, Politan Wins the Proxy War; Both Its Nominees are Elected to the Masimo BoardOn Eve of Big Vote, Masimo & Politan Make One Last Pitch; Politan Sues Over Vote Manipulation
Despite explosions going off everywhere all around the combatants, Masimo Corporation’s 2024 Annual Stockholders Meeting will in fact take place as rescheduled tomorrow, September 19, 2024. It has been a long and bloody battle to get to this point and it is not entirely clear who will prevail. But both sides took a last shot at reaching out to investors to try and gain their votes.
Politan’s swing was a little more powerful as it announced it would expand its lawsuit in the Delaware Court of the Chancery – with a new party to be sued, based on evidence it uncovered as part of Masimo’s lawsuit against it in California District Court.
See more on this last blast in the proxy war between Politan and Masimo
[Read more…] about On Eve of Big Vote, Masimo & Politan Make One Last Pitch; Politan Sues Over Vote ManipulationMasimo Strikes Back: Judge Finds Politan & Koffey in Contempt of Court
Will Politan Snatch Defeat from the Jaws of Victory?
Last Friday, just hours after I reported to you on what appeared to be a significant “win” for Politan Capital Management L.P. et. al. in its proxy battle with Masimo Corporation, a new ruling is handed down from U.S. District Court Judge James V. Selna in which he holds Politan and its Chief Investment Officer Quentin Koffey in Contempt of Court based on a Masimo Ex Parte motion. Judge Selna’s ruling showed some real anger at Koffey and Politan and he has scheduled a new hearing on the sanctions to be administered in the matter, although at this moment, Masimo’s Annual Stockholders Meeting is scheduled to go ahead with its proxy vote this Thursday.
See the latest on this continuing heated battle
[Read more…] about Masimo Strikes Back: Judge Finds Politan & Koffey in Contempt of CourtBREAKING NEWS: Politan Wins…Court Denies Masimo Request for Preliminary Injunction
Politan Candidates & Proxy Vote Goes Forward Next Week; Masimo Demands a ‘Contempt’ Order
Late on Thursday, Politan announced that Judge James V. Selna of the U.S. District Court, Central District of California has denied Masimo’s request for a preliminary injunction in the matter of Masimo Corporation v. Politan Capital Management et.al. that sought to block Politan’s nominees for the Masimo Board of Directors. This is a big win for Quentin Koffey and Politan as it means that despite Masimo’s effort to disqualify its candidates, they remain eligible to run for the open Board positions and that the vote by investors can continue as planned at the Masimo 2024 Annual Stockholders Meeting, scheduled less than a week away, on Thursday, September 19, 2024.
Learn more about this big news in Masimo v. Politan
[Read more…] about BREAKING NEWS: Politan Wins…Court Denies Masimo Request for Preliminary InjunctionRevised Politan Proxy Material Offers a Surprising Masimo Tidbit
Chancery Court Declines to Force an Earlier Stockholders Meeting
New proxy material produced and distributed to stockholders this week by Politan Capital Management – an activist investor in Masimo Corp (Nasdaq: MASI) – mostly contains information that was already known. The activist investor, as well as Masimo itself, must provide new proxy materials and voting forms as all previous votes were invalidated as a result of a rescheduling of the 2024 Annual Stockholders Meeting to September 19th (originally was to be July 25th).
But Politan included a few pages of updated background information which, among those items I’ve already written about, did include one fascinating or tantalizing bit of new information.