11:02 AM EDT, 09/12/2024 (MT Newswires) -- Masimo ( MASI ) investor Politan Capital Management said Thursday that a California judge denied the company's request for a preliminary injunction, paving the way for a shareholder vote to take place on Sept. 19.

The ruling has denied Masimo's ( MASI ) efforts to stop Politan from voting proxies collected for the shareholder vote, according to a statement from Politan.

"We are pleased by the court's ruling, which removes the last barrier to shareholders having an opportunity to elect truly independent directors," according to Politan and its founder and Chief Investment Officer Quentin Koffey. "By seeking to prohibit Politan from voting its proxies, Masimo's ( MASI ) litigation was always nothing more than a desperate move to prevent a fair election."

Politan said shareholders can vote for Darlene Solomon and William Jellison, its nominees to Masimo's ( MASI ) board.

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

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

Price: 111.22, Change: -2.97, Percent Change: -2.61