The founder of Masimo is demanding $400M in payouts after being sacked as board chair, Sujeet Indap of The Financial Times reports. Joe Kiani filed a lawsuit in California state court asking a judge to declare his employment agreement allows him to receive pay associated with a company sale. In his lawsuit, Kiani said that “ceasing to be board chair” entitled him to the vesting of 2.7M stock units and that he was owed a $35M cash payment.
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