Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, July 20, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Masimo Corporation ("Masimo") (NASDAQ: MASI) investors that the firm has initiated an investigation into possible securities violations and may file a class action on behalf of investors. Masimo investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On July 17, 2023, Masimo, a company, released its preliminary revenue results for the second quarter of 2023. They projected their revenue to be between $453 million and $457 million, which is significantly lower than the estimated $540.87 million. The decrease in revenue was attributed to various factors, including delays in large orders, declining sales of single-patient use sensors, reduced customer conversions, and a decrease in demand for their products from hospitals.
As a consequence of this announcement, Masimo’s stock price experienced a sharp decline from $147.16 per share on July 17, 2023, to $117.73 per share on July 18, 2023. The stock fell by $29.43 per share in response to the lower-than-expected revenue forecast.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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