OSI Systems, Inc.

Case Details

Class Period:
August 21, 2013 – February 1, 2018
Date Filed:
February 1, 2018
Case Number:
Central District of California

Case Summary

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that OSI acquired the Albania concession through bribery or other illicit means; (2) 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; (3) that OSI engaged in other illegal acts, including improper sales and cash payments to government officials; (4) that these practices caused the Company to be vulnerable to potential civil and criminal liability, and adverse regulatory action; and (5) that, as a result of the foregoing, Defendants statements about OSIs business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

Action Details

View Press Release

View Complaint (pdf)

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