SAN FRANCISCO, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in OSI Systems, Inc. (NASDAQ:OSIS) to the securities class action pending in the U.S. District Court for the Central District of California and to the February 5, 2017 Lead Plaintiff deadline. If you purchased or otherwise acquired securities of OSI Systems between August 16, 2013 and December 6, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/OSIS
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On December 6, 2017, Muddy Waters Research published a scathing report about OSI Systems entitled “OSIS: Rotten to the Core.” The report alleges there was corruption in the 2013 award of OSI’s Albania concession that could subject the Company to liability under the Foreign Corrupt Practices Act. It also alleges that OSI Systems’ Mexico contract appears to have been substantially overpriced and oversold in terms of capabilities, thereby placing renewal of that contract at risk.
This news drove the price of OSI Systems shares down $24.55, or about 29%, to close at $59.52 on December 6, 2017.
“We’re focused on undisclosed facts Muddy Waters apparently uncovered that, if true, could mean OSI’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding OSI Systems should consider their options to help in the investigation or take advantage of the SEC whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email OSIS@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000