2023-05-01 17:01:06 ET
- Masimo ( NASDAQ: MASI ) holder Politan Capital formally announced its intention to nominate two candidates to board as the activist investor continues to battle with the pulse oximetry company.
- Politan Capital, which has a 9% stake in Masimo, will nominate Michelle Brennan and Quentin Koffey for the board, the investor said in a 13D/A filing.
- The filing comes after Masimo ( MASI ) in late March announced several changes to its board of directors on Thursday, including a lead independent director amid a proxy battle with Politan. Masimo ( MASI ) also said it would increase the board size to seven from five members and revise an executive compensation program.
- Masimo ( MASI ) fell 3.6% in after hours trading amid an update about a jury deliberating on its trade secrets case with Apple ( AAPL ).
- Politan Capital reportedly first took a stake in Masimo in August.
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Masimo holder Politan to nominate two board candidates