• 3 months ago
Activist investor Politan Capital secured two board seats at medical technology company Masimo, ousting founder and CEO Joe Kiani and director Chris Chavez. According to an anonymous source familiar with the situation, Politan's nominees received approximately double the votes of Joe Kiani and Chris Chavez. The proxy battle involved fierce legal action. Masimo sued Politan over proxy statement errors, and Politan accused Masimo of manipulating votes. Masimo shares rose over 2% following the vote.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03Activist-investor Politan Capital secured two board seats at medical technology company
00:07Massimo, ousting founder and CEO Joe Chiani and director Chris Chavez.
00:12Politan's nominees received approximately double the votes of Joe Chiani and Chris Chavez,
00:17according to an anonymous source familiar with the situation.
00:20The proxy battle involved fierce legal action.
00:23Massimo sued Politan over proxy statement errors, and Politan accused Massimo of manipulating
00:28votes.
00:29Massimo's shares rose over 2 percent following the vote.
00:31For all things money, visit Benzinga.com.

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