Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in OSI Systems (NASDAQ:OSIS) in connection to alleged violations of securities laws by OSIS. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in OSI Systems between August 21, 2013 and December 6, 2017.
The class action complaint specifically alleges that during the period in question, OSIS might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company acquired its Albania concession by means of bribery or other unlawful methods; that the company made a transfer of 49% of S2 Albania SHPK, the company related to that concession, and a company which was reportedly valued at millions of dollars, for consideration below $5.00; that the company participated in other unlawful activities, such as illicit sales and payments to officials of governments; that these activities put the company at risk of criminal and/or civil liability, as well as regulatory scrutiny; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.
According to the the company’s website, OSI Systems is a designer and manufacturer of “specialized electronic systems and components” for use in homeland security, defense, aerospace, and healthcare. The company has three operation divisions: Security, Healthcare and Optoelectonics and Manufacturing. It is headquartered in Hawthorne, California and operates in the Americas, the European Union, the Middle East, and Asia Pacific. The following statement by Chairman, CEO and President Deepak Chopra appears on the company’s website: “OSI employees understand our responsibility to develop products that improve people’s lives by creating safer and healthier conditions. Innovative solutions that have a positive impact on the global community are our passion: searching for great ideas that will work in the real world is our challenge. I am proud to lead this quest.”
A class action lawsuit has already been filed in connection with OSI Systems. If you wish to serve as lead plaintiff in the OSIS lawsuit, you must move the Court no later than February 5, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.