OSI Systems Inc
16 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
|Company Name:||OSI Systems Inc|
|Stock Symbol :||NASDAQ: OSIS|
|Class Period Start:||08/16/2013|
|Class Period End:||12/05/2017|
|Lead Plaintiff motion:||02/05/2018|
|Type of Case:||Securities Class Action|
|Court:||U.S. District Court for the Central District of California|
Thieler Law Corp advises investors with losses exceeding $100,000 of the February 5, 2018 lead plaintiff deadline in a class action lawsuit filed against OSI Systems Inc (NASDAQ: OSIS) (“OSI” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased OSI Systems Inc securities between August 16, 2013 and December 5, 2017, have until February 5, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.
If you purchased OSI Systems Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing email@example.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that OSI acquired the Albania concession through bribery or other illicit means; 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; that OSI engaged in other illegal acts, including improper sales and cash payments to government officials; that these practices caused the Company to be vulnerable to potential civil and criminal liability, and adverse regulatory action; and 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.
On December 6, 2017, Muddy Waters, LLC release a report claiming that OSI Systems “obtained a major turnkey contract in Albania through corruption.” In an interview with Bloomberg TV, Muddy Water’s Founder Mr. Block alleged the presence of “smoking-gun proof that, when this company got a turn-key contract a few years ago in Albania — worth $150-$250 million top line — that they paid a bribe or kickback of almost half of that concession. To me, this is damning evidence.”
On this news, NASDAQ: OSIS fell $24.55 per share, or 29%, to close at $59.52 on December 6, 2017.
If you were negatively impacted by your investment in OSI Systems Inc securities between August 16, 2013 and December 5, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
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