MILWAUKEE, Dec. 10, 2013 (GLOBE NEWSWIRE) -- We are investigating possible securities fraud claims against OSI Systems, Inc. resulting from inaccurate statements OSI made regarding its business operations, practices, and financial performance.
Click here to learn more about the investigation: http://www.ademilaw.com/case/osi-systems-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Our investigation focuses on the extent to which OSI issued false and misleading statements regarding its financial statement, past and future business performance and prospects. Specifically, the investigation is related to OSI's announcement that its security division subsidiary, Rapiscan Systems, Inc. (Rapiscan), was notified by the TSA that a $60 million order for Advanced Technology X-Ray (AT-2) detection systems was being terminated for default. According to reports the TSA has resumed an effort to bar OSI's Rapiscan from future contracts. On December 9, 2013, OSI stated that the TSA's termination of the AT-2 order resulted from Rapiscan's use of a component manufactured in China without the TSA's prior approval. According to reports, lawmakers are concerned that the unapproved component made the Rapiscan machines vulnerable to sabotage or espionage, and have asked the TSA for documents relating to communications between OSI and the federal government.
If you wish to obtain additional information or have information about OSI, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/osi-systems-inc.
We specialize in securities fraud and shareholder litigation. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.