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Labaton Keller Sucharow LLP Announces Notice of Pendency and Proposed Settlement of Class Action, and Motion for Attorneys' Fees and Expenses in Vazquez v. Masimo Corporation

prnewswire.com
MASI The article announces a proposed settlement for a class action lawsuit against Masimo Corporation. While the settlement amount is significant, the company denies liability. The sentiment is neutral as it pertains to a legal proceeding and financial settlement rather than operational performance or future outlook.

NEW YORK, March 3, 2026 /PRNewswire/ --

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF CALIFORNIA

SERGIO VAZQUEZ, Individually and on Behalf of All

Others Similarly Situated,

Plaintiff,

v.

MASIMO CORPORATION, JOSEPH KIANI, MICAH

YOUNG, BILAL MUHSIN, and ELI KAMMERMAN

Defendants.

Case No.: 3:23-cv-01546-DEB

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF

CLASS ACTION, AND MOTION FOR ATTORNEY'S FEES AND EXPENSES

To: all persons and entities who or that purchased or acquired the publicly traded common stock of Masimo Corporation ("Masimo") during the period from May 4, 2022 through August 8, 2023, both dates inclusive (the "Class Period"), and were allegedly damaged thereby (the "Settlement Class").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of California, that Court-appointed Lead Plaintiffs, on behalf of themselves and all members of the proposed Settlement Class, and Masimo, Micah Young, Bilal Muhsin, and Eli Kammerman (collectively, "Settling Defendants"), have reached a proposed settlement of the above-captioned class action (the "Action") in the amount of $33,750,000 (the "Settlement"). Settling Defendants deny any liability or wrongdoing.

A hearing will be held before the Honorable Daniel E. Butcher, either in person or remotely in the Court's discretion, on May 5, 2026, at 9:30 a.m. (Pacific Time) at the United States District Court, Southern District of California, Edward J. Schwartz United States Courthouse, 221 West Broadway, San Diego, CA 92101 (the "Settlement Hearing") to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated August 14, 2025; (iii) for purposes of the Settlement only, finally certify the Settlement Class, finally certify Lead Plaintiffs as Class Representatives for the Settlement Class, and finally appoint the law firm of Labaton Keller Sucharow LLP as Class Counsel and Hagens Berman Sobol Shapiro LLP as Liaison Counsel for the Settlement Class; (iv) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the "Net Settlement Fund") to Settlement Class Members; and (v) approve Lead Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another notice. You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Postcard Notice, you may obtain copies of the Postcard Notice, long-form Notice, and Claim Form by visiting the website, www.MasimoSecuritiesSettlement.com, or by contacting the Claims Administrator at:

Masimo Securities Settlement

c/o A.B. Data, Ltd.

P.O. Box 170600

Milwaukee, WI 53217

www.MasimoSecuritiesSettlement.com

[email protected]

(866) 830-0516

Inquiries, other than requests for copies of notices or about the status of a claim, may also be made to Lead Counsel:

LABATON KELLER SUCHAROW LLP

Lauren A. Ormsbee, Esq.

140 Broadway

New York, NY 10005

www.labaton.com

[email protected]

(888) 219-6877

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than April 28, 2026. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice available on the settlement website, and such request must be received no later than April 14, 2026. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Lead Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Settling Parties in accordance with the instructions in the long-form Notice available on the website, such that they are received no later than April 14, 2026.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR

DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

Dated: March 3, 2026 BY ORDER OF THE COURT:

United States District Court

Southern District of California

SOURCE Labaton Keller Sucharow LLP