NEW ORLEANS, Dec. 13, 2013 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 10, 2014 to file lead plaintiff applications in a securities class action lawsuit against OSI Systems, Inc. (Nasdaq:OSIS), if they purchased the Company's securities during the period between January 24, 2012 and December 6, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of OSI Systems and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 10, 2014.
About the Lawsuit
OSI Systems and certain of its executives are charged with issuing a series of materially false and misleading statements regarding the Company's business, operational and compliance policies during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that OSI Systems: (i) manipulated operational test of its Advanced Imaging Technology by selectively picking the best sensors, causing the test not to be representative of the scanners already deployed at airports; (ii) created products that raised strong privacy concerns and were subject to disqualification for use in airport security checkpoints; and (iii) manufactured its products with parts that directly violated contracts with the Transportation Security Administration, thereby risking cancellation of the contracts.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.