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TMCNet:  EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Fraud Claims Against OSI Systems, Inc. --- OSIS

[December 09, 2013]

EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Fraud Claims Against OSI Systems, Inc. --- OSIS

NEW YORK --(Business Wire)--

The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against OSI Systems (News - Alert), Inc. (Nasdaq:OSIS) resulting from allegations that the company may have issued materially misleading business information to the investing public.

The investigation concerns whether OSI Systems and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On December 5, 2013, OSI Systems announced that its security division, Rapiscan Systems, was notified by the U.S. Transportation Security Administration ("TSA") that an order for an Advanced Technology X-Ray (AT-2) based systems, with a value of approximately $60 million, was being cancelled for default. On December 9, 2013, OSI Systems revealed that TSA cancelled the order becaus OSI Systems failed to obtain the necessary TSA approval prior to using a new part for its AT-2 detection systems manufactured in China, violating its contract. On that same day, it was disclosed that the Company may face a ban on U.S. contracts for using such unapproved Chinese-made parts in its baggage-screening equipment.


On this news, shares of OSI Systems fell $17.37 per share or by approximately 27%, closing at a price of $47.38 on December 9, 2013, damaging investors.

The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information. If you purchased OSI Systems securities, you may visit the website at http://rosenlegal.com to join the class action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.


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