Court documents unsealed on Friday show Masimo CEO Joe Kiani shared material non-public information with an investor in March just before it was released.
Masimo CEO Joe Kiani revealed what he called material non-public information to a major investor in March, 12 hours before it was released to the public, according to court filings.
Politan is in the midst of its second proxy battle with Masimo, which makes devices for monitoring how much blood is in a person's oxygen.CEO Joe Kiani, whose medical-technology company is in the midst of a proxy battle with activist Politan, revealed what he called confidential information to a major investor 12 hours before it was released to the public, according to court filings.
In addition to taking on Masimo, Politan has accused RTW of a so-called empty voting scheme, or voting its shares in favor of management's slate of directors even though it no longer actually owned the shares underlying its votes. "Please don't trade on anything until this is out, which is going to go out before the market opens tomorrow morning," Kiani wrote in the email to Yalamanchi. The message included two attachments and a timestamp indicating when the press release would publish.
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