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Masimo Terminates Kiani’s Employment; Files Lawsuit Alleging He Violated Securities Law

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Header of Masimo lawsuit against Joe Kiani & RTW

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

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See Why Apple’s Patent Win is Actually a Victory for Masimo

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Masimo Freedom smartwatch

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

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More on Crestron’s New Experience Center; CEO Discusses CEC & Business

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Brad Hintze and the Crestron management team in the Event Space
[Click to enlarge]

As I reported last week, I attended the October 15, 2024, Grand Opening of the latest Crestron Experience Center (CEC), located in the prestigious New York Design Center in Manhattan. This CEC is remarkable in its own right, but as I reflected further on the Grand Opening I realized that the event itself was noteworthy. Not only did a top Crestron executive sit down with me to offer some interesting perspectives on the new CEC and business in general, but what I observed at that event itself was impressive as well.

So I have decided to augment my previous report with additional observations…and more photos.

See more on the Crestron Experience Center in NYC & find out what the CEO shared with me…

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Sonos Troubles Mount – Poor Sales Suggests Ace May Be a Joker

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Sonos Ace headphones are reportedly not selling well

Ace Production Cut to Just 10% of Original Plan

While Sonos (Nasdaq: SONO) claims to have most of its app problems behind it, multiple reports are emerging that suggest it may have an even bigger problem – the introduction of its Ace premium headphone has flopped. If these reports are true, then Sonos may indeed be staring into the jaws of the one monster that can truly terrify it – growing consumer resistance to its new products.

See more on this troubling turn of events for Sonos

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Masimo Expands Board with Two New Appointments

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Masimo logo

Masimo Corporation (Nasdaq: MASI) announced that it has expanded the company’s Board of Directors with two new appointees. The medical products manufacturer, which also owns the Sound United audio brands, will now have a total of eight directors on its board.

See more on the expansion of the Masimo Board

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Yet Again, Guitar Center, Owner of AVDG, Sees Moody’s Downgrade Its Credit Rating

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Guitar Center store in Florida

Moody’s on GC: ‘Outlook Remains Negative’

This week, Moody’s Ratings, part of Moody’s Investors Services, announced that it was cutting Guitar Center’s credit rating to Caa3, down from Caa2. Guitar Center came on Strata-gee’s radar screen back in 2017 when it acquired AudioVisual Design Group (AVDG), a multi-regional integration group that to me seemed an odd fit with the mission of a struggling mass market musical instrument dealer. In 2020, Guitar Center filed for bankruptcy but has since exited on court approval of a new operating plan.

See more on the struggles of Guitar Center causing this downgrade

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Nationwide MG Appoints a New(ish) Executive Director for Azione Unlimited

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Azione Unlimited's new Executive Director Patrick McCarthy

Nationwide Marketing Group, owner of a stable of high-performance dealer buying groups like Oasys, Ellipsys, and Azione Unlimited, announced this week that it has appointed Patrick McCarthy as the new Executive Director of Azione Unlimited. As you most likely know, McCarthy has been a long-time member of the group’s management since 2019 and has served as the Interim Director since June in the wake of Richard Glikes departing the group back in February.

Patrick’s new appointment is effective immediately, which is a good thing as the group is about to launch its Fall Conference, taking place this year in San Diego, CA from October 21st – 23rd.

See more on the appointment of Patrick McCarthy at Azione Unlimited

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Crestron Opens Impressive NYC Experience Center Showcasing Resi & Commercial Tech

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Crestron executives John Clancy, Dan Feldstein, and Brad Hintze toast the new Experience Center in NYC
John Clancy, Dan Feldstein, and Brad Hintze (who appears to be toasting Strata-gee readers) raise a glass of champagne to toast the launch of Crestron’s remarkable Flagship NYC Experience Center [Click to enlarge]

Crestron Electronics, a worldwide industry leader in both the commercial and residential smart technology space, has opened a dramatic and dynamic new Crestron Experience Center (CEC) in the heart of Manhattan at 200 Lexington Avenue in the renowned New York Design Center. A grand opening ceremony was held with the media, customers, integrators and other special guests on Tuesday, October 15th, previewing the space which offers visitors an expansive roster of “hands-on” experiences and even includes a “workshop” for true first-person experiences where visitors can – among other things – discover new possibilities they didn’t know existed.

See more on this all-new flagship Crestron Experience Center in Manhattan

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Voxx Drops Another 18.6% in Sales; Smaller Company Seeks More Profits & Less Debt

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Voxx reports Fiscal 2025 Q2 results

Onkyo, Integra, and Klipsch Owner Stops Bleeding in Profits But Not Sales

Voxx International Corporation (Nasdaq: VOXX) announced the financial results for its second quarter and first half of Fiscal 2025 on Thursday after the close of markets. The company, which is in the middle of a major transformation of its business, hailed the results in which it has dramatically cut the level of its total and net debt, and finished with a small net income after several quarters of net losses.

But these positive results were generated at the expense of net sales which continue to decline.

See more on the results of the second quarter for Voxx

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AVPro Global Announces Appointments in MXnet Systems Group & Commercial

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AVPro Global logo

AVPro Global continues its rapid expansion with two major announcements this week, one in its MXnet Systems Group and another in Commercial Sales. Yet another sign of the company’s continued growth, AVPro Global continues to build out its infrastructure to better take advantage of market opportunities the company has identified.

The company has appointed Andy Herron and Deby Jimenez to its MXnet Systems Group and Jerrie Anderson to oversee the company’s commercial business development.

Learn more on these new additions at AVPro Global…

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