A Delaware court last week ruled in favor of Joe Kiani, sending his dispute with the medical device company he founded back to California.
The court dismissed Masimo’s case against Kiani, which sought to invalidate the employment agreement tied to Kiani’s lawsuit against the company over an approximately $450 million severance payout.
“I’m happy with the court’s decision and appreciate the judge’s ruling and careful consideration of the matter,” Kiani told the Business Journal in a statement over email.
Kiani filed the lawsuit last year after resigning as CEO following a proxy battle with Politan Capital Management that resulted in his ousting as chairman.
Masimo declined to comment.
Masimo faced another legal setback after the U.S. International Trade Commission last month denied the company’s request to reinstate a ban on Apple Watches.
Following that decision, the company has since dropped its lawsuit against U.S. Customs and Border Protection over its ruling allowing Apple to restore blood oxygen features back into select Apple Watch models, according to Bloomberg Law.
