courtneyk The proxy battle at Masimo Corporation ( NASDAQ: MASI ) took a new turn on Wednesday as activist investor Politan Capital Management sued the medical device maker days after the latter's own lawsuit against the hedge fund. Early this week, Masimo ( MASI ) filed a lawsuit in a California federal court requiring Politan, which is seeking two more board seats at the company , to correct its proxy materials. Politan’s suit, filed in the Delaware Court of Chancery, targeted Masimo ( MASI ) and three of its directors and sought judicial intervention to hold the company's 2024 annual meeting "as soon as possible" without delay.
In its lawsuit, Politan argued that the delay is unnecessary, violates Masimo's ( MASI ) bylaws, and manipulates the company's corporate structure to retain the current board membership in office. More on Masimo Masimo: Promising Developments Masimo Corporation (MASI) Q1 2024 Earnings Call Transcript Baron Funds - Masimo Corp.: Can Potentially Double Our Investment Masimo postpones annual meeting amid lawsuit against Politan Masimo investors should elect Politan board nominees: Glass Lewis.
