Masimo Board Can't Duck Unfair Stock Payment Claims

Law360, Los Angeles (July 17, 2013, 4:53 PM EDT) -- The board of Masimo Corp. failed on Tuesday to dodge a shareholder derivative suit in Delaware federal court alleging it unfairly paid its directors with strategically timed stock options awards, losing an argument that the claims missed the statute of limitations.

The board sought to have the suit thrown out, arguing that several of the stock options payments at issue were in 2008 and 2009, long after the statute of limitations for complaints had passed, according to court documents. It also argued that none of the...
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