NEW YORK, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Comerica Incorporated (NYSE: CMA), Hawaiian Electric Industries, Inc. (NYSE: HE), and Masimo Corporation (NASDAQ: MASI). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Comerica Incorporated (NYSE: CMA)
Class Period: February 9, 2021 - May 29, 2023
Lead Plaintiff Deadline: October 20, 2023
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits to millions of Americans without bank accounts; (2) as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor’s office in Pakistan, Comerica was not in compliance with the Federal Contract, and knew it was not in compliance; (3) Comerica knew and failed to disclose that it was in potential violation of Regulation E due to inadequate fraud prevention in the Direct Express program and responses to instanced of fraud; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Comerica class action go to: https://bespc.com/cases/CMA
Hawaiian Electric Industries, Inc. (NYSE: HE)
Class Period: February 28, 2019 - August 16, 2023
Lead Plaintiff Deadline: October 23, 2023
Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Hawaiian Electric’s wildfire prevention and safety protocols and procedures were inadequate to meet the challenges for which they were ostensibly designed; (ii) accordingly, despite knowing the degree of risk that wildfires posed to Maui, the Company’s inadequate safety protocols and procedures placed Maui at a heightened risk of devastating wildfires; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
For more information on the Hawaiian Electric class action go to: https://bespc.com/cases/HE
Masimo Corporation (NASDAQ: MASI)
Class Period: February 28, 2023 - July 17, 2023 (Common Stock Only)
Lead Plaintiff Deadline: October 23, 2023
During the Class Period, as detailed herein, Masimo and the Defendants made materially false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Masimo’s common stock and operated as a fraud or deceit on Class Period purchasers of Masimo’s common stock by materially misleading the investing public. Later, when Masimo and Defendants’ prior misrepresentations and fraudulent conduct became apparent to the market, the price of Masimo’s common stock materially declined, as the prior artificial inflation came out of the price over time. As a result of their purchases of Masimo’s common stock during the Class Period, Plaintiff and other members of the Class suffered economic loss, i.e., damages under federal securities laws.
Masimo’s stock price fell in response to the corrective event on July 17, 2023, as alleged supra. On July 17, 2023, Defendants disclosed information that was directly related to their prior misrepresentations and material omissions concerning Masimo’s forecasting processes and 2023 full-year financial guidance.
In particular, on July 17, 2023, Masimo reduced the lower end of full year revenue guidance for the healthcare business to $1.30 billion from $1.45 billion. The Company also announced a reduction in annual revenue guidance for the non-healthcare business to $800 million to $850 million from $965 million to $995 million.
For more information on the Masimo class action go to: https://bespc.com/cases/MASI
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
