Recent Security Class Actions

OSI Systems Inc. Common Stock (DE) (NASDAQ: OSIS)

Company Name:OSI Systems Inc. Common Stock (DE)
Stock Symbol:NASDAQ: OSIS
Class Period Start:08/21/2013
Class Period End (inclusive):02/01/2018
Filing Deadline:02/05/2018

According to the Complaint, OSI purportedly designs and manufactures specialized electronic systems and components. The Company claims that it sells its products and provides related services in diversified markets, including homeland security, healthcare, defense, and aerospace.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants failed to disclose: (1) that OSI acquired the Albania concession through bribery or other illicit means; (2) that OSI transferred 49% of its project company associated with the Albania concession, S2 Albania SHPK, an entity purportedly worth millions, for consideration of less than $5.00; (3) that OSI engaged in other illegal acts, including improper sales and cash payments to government officials; (4) that these practices caused the Company to be vulnerable to potential civil and criminal liability, and adverse regulatory action; and (5) that, as a result of the foregoing, Defendants' statements about OSI's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.