Item 7.01. Regulation FD Disclosure.
On January 10, 2023, an Administrative Law Judge issued a Notice of Final
Initial Determination on Violation of Section 337 in U.S. International Trade
Commission Investigation No. 337-TA-1276 requested by Masimo Corporation
("Masimo") against Apple Inc. for infringement of a number of Masimo patents
(the "Notice"). A copy of the Notice is furnished as Exhibit 99.1 to this
Current Report on Form 8-K. Masimo issued a press release regarding the Notice
(the "Press Release"), a copy of which is furnished as Exhibit 99.2 to this
Current Report on Form 8-K. In accordance with General Instructions B.2 of Form
8-K, the information in Item 7.01 of this Current Report on Form 8-K (including
Exhibits 99.1 and 99.2 to this Current Report) shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), or otherwise subject to the liabilities under that section, and
shall not be deemed to be incorporated by reference into any registration
statement or other document filed under the Securities Act of 1933, as amended,
or the Exchange Act, except as shall be expressly set forth by specific
reference in such filing.
Forward-Looking Statements
The Press Release includes forward-looking statements as defined in Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934, in connection with the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include, among others, statements regarding the
Notice and its potential to restore fairness in the market, potential actions to
be taken by the United States International Trade Commission and other potential
patent infringement activities by Apple. These forward-looking statements are
based on current expectations about future events affecting Masimo and are
subject to risks and uncertainties, all of which are difficult to predict and
many of which are beyond Masimo's control and could cause Masimo's actual
results to differ materially and adversely from those expressed in Masimo's
forward-looking statements as a result of various risk factors, including, but
not limited to: risks related to Masimo's assumptions regarding the
repeatability of clinical results; risks related to Masimo's belief that its
unique noninvasive measurement technologies, including the Masimo W1™ watch,
contribute to positive clinical outcomes and patient safety; risks related to
Masimo's belief that its noninvasive medical breakthroughs provide
cost-effective solutions and unique advantages; risks related to COVID-19; as
well as other factors discussed in the "Risk Factors" section of Masimo's most
recent reports filed with the Securities and Exchange Commission ("SEC"), which
may be obtained for free at the SEC's website at www.sec.gov. Although Masimo
believes that the expectations reflected in its forward-looking statements are
reasonable, Masimo does not know whether its expectations will prove correct.
All forward-looking statements included in the Press Release are expressly
qualified in their entirety by the foregoing cautionary statements. You are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of today's date. Masimo does not undertake any obligation to
update, amend or clarify these statements or the "Risk Factors" contained in its
most recent reports filed with the SEC, whether as a result of new information,
future events or otherwise, except as may be required under the applicable
securities laws.
Item 9.01. Financial Statements and Exhibits.
(d) The following items are filed as exhibits to this Current Report on Form
8-K.
Exhibit
No. Description
Notice Of Final Initial Determination on Violation of Section 337, dated
99.1 January 10, 2023
99.2 Press Release dated January 10, 2023, Announcement of Notice
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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