|[January 10, 2014]
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against OSI Systems, Inc.
BENSALEM, Pa. --(Business Wire)--
Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the Central District
of California on behalf of a class (the "Class") comprising all
purchasers of OSI Systems (News - Alert), Inc. ("OSI" or the "Company") (NASDAQ:OSIS)
securities between January 24, 2012 and December 6, 2013, inclusive (the
OSI designs and manufactures electronic systems and components for
homeland security, healthcare, defense and aerospace markets. One of the
Company's largest customers is the United States Department of Homeland
Security and the Transportation Security Administration (TSA). The
Complaint alleges that the defendants made false and/or misleading
statements and failed to disclose material adverse facts about the
Company's business, operations and compliance policies. Specifically,
defendnts misrepresented or failed to disclose that:
The Company manipulated an operational test of its Advanced Imaging
Technology, causing the test not to be representative of the scanners
already deployed at airports.
The Company's products raised strong privacy concerns and were subject
to disqualification for use in airport security checkpoints.
The Company manufactured its products with parts that directly
violated contracts with the TSA, thereby risking cancellation of the
If you are a member of the Class described above, you may move the Court
no later than February 10, 2014, to serve as lead plaintiff; however,
you must meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel of
your choice or take no action and remain an absent member of the Class.
If you have any questions concerning this Notice or your rights or
interests with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll
Free at (888) 638-4847, or by email to firstname.lastname@example.org,
or visit our website at http://www.howardsmithlaw.com.
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