Hung jury likely in Masimo, Apple trade case, says Piper Sandle

Piper Sandler analyst Jason Bednar says that per an update yesterday afternoon on Twitter from Meghann Cuniff, a legal affairs journalist, a hung jury is looking likely in Masimo’s (MASI) trade secret case versus Apple (AAPL). Judg Selna overseeing the trial has reportedly given the jury instructions to continue deliberating says the firm. At that point, if the jury has not come to a unanimous decision, it’s possible Judge Selna declares a mistrial, Piper notes. It believes Masimo’s past legal wins and historically strong intellectual property had investors believing the company would win its trade secret case against Apple. That view, however, doesn’t appear likely to play out if the details surfacing yesterday afternoon are accurate, Piper adds. It has a Neutral rating on Masimo.