10:08 AM EDT, 07/16/2024 (MT Newswires) -- Masimo ( MASI ) investor Politan Capital Management said Tuesday it will take all needed action to ensure that the company's annual meeting is not delayed beyond Sept. 19.

Politan founder Quentin Koffey said the annual meeting, which was originally scheduled for July 25, should be "held sooner."

Politan, which has an 8.9% stake in Masimo ( MASI ), also commented on the company's lawsuit in federal court against Politan and Koffey, who is also a member of Masimo's ( MASI ) board.

The suit seeks to require Politan to correct alleged misstatements and omissions in its proxy materials and also alleges that Koffey assisted plaintiff's counsel in litigation against Masimo ( MASI ).

"There are no misstatements. Politan has never had any contact with 'plaintiff's counsel' involving litigation against Masimo ( MASI )," Koffey said. "The reality is that moving the annual meeting -- which was scheduled to be held in nine days -- back two months is nothing more than a desperate attempt to prevent the voices of Masimo's ( MASI ) shareholders from being heard."

Masimo ( MASI ) didn't immediately respond to a request for comment from MT Newswires.

Shares of Masimo ( MASI ) were down 2.6% in recent Tuesday trading.

Price: 106.09, Change: -2.79, Percent Change: -2.56