Robbins Umeda LLP Announces an Investigation of Masimo Corporation
SAN DIEGO--(BUSINESS WIRE)-- Shareholder rights firm Robbins Umeda LLP is investigating possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Masimo Corporation (NAS: MASI) . Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Gregory E. Del Gaizo at (800) 350-6003, firstname.lastname@example.org, or via the shareholder information form on the firm's website.
Robbins Umeda LLP is investigating whether officers and directors of Masimo breached their fiduciary duties to shareholders by violating the terms of their 2007 Stock Incentive Plan, including the company's Director Compensation Policy and Executive Officer Compensation Policy. In particular, the firm is investigating allegations that in 2011, the Compensation Committee made two stock options grants in violation of the 2007 plan, which limits stock option grants to 20,000 shares to non-employee directors and limits an annual grant of 100,000 shares for the Chief Executive Officer. On February 22, 2011, and October 26, 2011, the Compensation Committee granted CEO Joe Kiani 300,000 stock options, and granted non-employee directors 20,000 options each, violating the policy limit of annual stock options.
Robbins Umeda LLP highlights that Masimo shareholders have the option to file a shareholder derivative action to hold those officers and directors accountable for damaging the company. Remedies commonly sought in derivative actions include corporate governance reforms designed to prevent future misconduct, removal of officers or directors whose misconduct injured the corporation, and monetary payments in the form of damages and disgorgement of ill-gotten gains.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com.
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/masimo-corporation/
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