Glancy Binkow & Goldberg LLP Files Class Action Lawsuit Against OSI Systems, Inc.

Glancy Binkow & Goldberg LLP, representing investors of OSI Systems, Inc. (“OSI” or the “Company”) (NASDAQ:OSIS), has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of OSI securities between January 24, 2012 and December 6, 2013, inclusive (the “Class Period”).

A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.

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, defendants 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 contracts.

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. If you wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Copyright Business Wire 2010

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