LOS ANGELES, CA / ACCESSWIRE / January 31, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against OSI Systems, Inc. (''OSI'' or ''the Company'') (NASDAQ: OSIS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between August 21, 2013 and December 6, 2017, inclusive (the ''Class Period''), are encouraged to contact the firm before February 5, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the lawsuit, the Company issued misleading statements and/or failed to disclose that: (1) OSI acquired the Albania concession through bribery or other illicit means; (2) OSI 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 engaged in other illegal acts, including improper sales and cash payments to government officials; (4) these practices caused OSI to be vulnerable to potential civil and criminal liability, and adverse regulatory action; and (5) as a result, defendants' statements about OSI's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis. When the truth was revealed to the investing public, shares of the Company fell sharply.
The Schall Law Firm represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
SOURCE: The Schall Law Firm