NEW YORK, Dec. 28, 2017 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of OSI Systems, Inc. (NASDAQ:OSIS) who purchased shares between August 21, 2013 and December 6, 2017. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) OSI Systems acquired the Albania concession through bribery or other illicit means; (2) OSI Systems transferred 49% of its project company associated with the Albania concession, S2 Albania SHPK, an entity allegedly worth millions, for consideration of less than $5.00; (3) OSI Systems engaged in other illegal acts, including improper sales and cash payments to government officials; (4) these practices caused OSI Systems to be vulnerable to potential civil and criminal liability; and (5) as a result, defendants’ statements about OSI Systems’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
Shareholders have until February 5, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/osi-systems-inc.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
Joseph Klein, Esq.
Empire State Building
350 Fifth Avenue
New York, NY 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665