The verdict in Irvine-based Masimo’s case against Apple, the world’s most valuable publicly traded company, in a Santa Ana federal court was undecided at press time as the three-week trial went to the jury last Wednesday.
“I gave it my best,” Masimo lead attorney Joseph Re of Irvine’s Knobbe Martens told our Peter J. Brennan a few minutes after giving closing arguments.
After the verdict, the Business Journal will have a more detailed look at the case, in which Masimo initially requested $3.1 billion in damages.
What’s clearly decided is the performance of Masimo’s stock (Nasdaq: MASI), which has risen 69% since its third-quarter results in November, for a valuation near $10 billion as of last week.
The maker of oxygen monitoring equipment is scheduled to report first-quarter financial results on May 9.
Last week’s deal between Villa Real Estate and Coldwell Banker Realty marks the fourth time top-performing local agent Steve High will return to Coldwell.
The OC native got his start 38 years ago as an agent in the Laguna Beach office of Coldwell Banker. He moved to the brokerage’s Newport Beach office before helping Danny Bibb found Coast Newport Properties, which sold in 1999 for an undisclosed amount to Coldwell Banker.
High then co-founded Strada Properties, a high-end brokerage based in Newport Beach that sold to Coldwell Banker in 2003 for roughly $38 million, High told the Business Journal’s Katie Murar.
High and partners Tim Carr and Evan Corkett worked for Coldwell Banker prior to founding Villa Real Estate in 2013 alongside Kim Bibb, John Flagg and the company’s equity partner, Newport Beach entrepreneur Gary Jabara.
That brokerage, which counts about 130 employees, late last month linked up with Coldwell Banker, marking a full-circle moment for High, who worked on a $70 million deal in 2021, the priciest in OC history.
For more on Villa, see this page’s story.
Following the 2011 death of Newport Beach resident Dan Sisemore, Rep. Ken Calvert called the founder of All American Asphalt “a visionary in the industry and the quintessential American entrepreneur.”
Starting in the late 1960s with an asphalt plant in Westminster, All American would grow to own a quarry in its hometown of Corona alongside six other asphalt plants, employing about 850 as of a decade ago.
The late Sisemore also knew his real estate, as evidenced by the $285 million being paid by the city of Irvine to shutter the company’s 11-acre plant and operations in the northern part of the city. The plant operated decades before the development of Irvine Co.’s upscale Orchard Hills community next door.
As for the company’s Westminster plant: housing appears to be making its way closer, too.
The site alongside the 405 freeway is next to the Westminster Mall, now being eyed for a major housing redevelopment push by Irvine’s Shopoff Realty Investments; see the front page for more. There’s no indication the plant is up for sale.
