- Masimo Corp. ( NASDAQ: MASI ) filed a counterclaim against Politan Capital after the activist sued the medical monitoring company on Friday.
- "Politan is refusing to provide information about its significant financial backers and “sidecar vehicles” created for the purpose of launching a campaign against Masimo," Politan said in a statement. "Masimo believes stockholders have a right to know. The bylaw amendments are designed to ensure that voters are properly informed if a nominating stockholder (or its backers) has incentives that are misaligned with Masimo’s other stockholders.
- Politan Capital, which reported an 8.8% stake in Masimo ( MASI ) in August, filed a lawsuit in the Court of Chancery for the State of Delaware. The suit came in response to bylaws that that Masimo adopted on Sept. 9, a week after the company met with Politan. The MASI board als o adopted a poison pill at the time.
- Politan is said to want to pressure Masimo, a medical monitoring company which supplies pulse oximeters to hospitals, to take actions to improve its stock price after it plunged following an acquisition of a high-end audio equipment company Sound United in February, the WSJ reported in August.
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Masimo files counterclaim after activist Politan filed lawsuit on Friday