Anonymous
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Anonymous
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The ongoing DOJ/FDA investigation of Masimo was also discussed during Q2 Earnings Call in August:
CEO Kiani & CFO de Raad: "The [federal grand jury subpoena/investigation] may be a distraction to management and cause us to incur significant expenses, and could result in criminal, civil or regulatory proceedings against us, our officers and/or other employees."
Masimo 10-Q SEC filing, p.50
http://www.sec.gov/Archives/edgar/data/937556/000093755614000138/masi-20140927x10q.htm
Mark de Raad: "Legal expenses associated with responding to the [federal grand jury subpoena/iinvestigation] in particular have been difficult to predict. And as a result, we are now anticipating that we will need to incur an additional $5 million in legal expenses [for a total of $10 million] related to this matter throughout the rest of 2014."
Q2 2014 earnings call, Aug 7, 2014
http://m.seekingalpha.com/article/2...script?source=email_rt_article_readmore&app=1
Joe Kiani: "Our ability to see some of the earnings per share leverage in 2014 had been and will unfortunately continue to be impacted by the higher-than-usual legal expenses resulting primarily from the [federal grand jury subpoena/investigation]. In fact, of our new projected $289 million of fiscal 2014 GAAP operating expenses, approximately $10 million is related to this topic, which was absent in our expenses last year. We hope that these investment issues will be concluded soon but cannot estimate a completion date at this time."
Q2 2014 earnings call, Aug 7, 2014
http://m.seekingalpha.com/article/2...script?source=email_rt_article_readmore&app=1
Let's keep that out of sight out of mind please. Joker n' co would prefer we focus on the good and deny the bad.