Johnson Fistel, LLP is investigating potential claims on behalf of OSI Systems, Inc. against certain of its officers and directors. Specifically, a class-action lawsuit pending in the Central District of California OSI against OSI and certain of its officers and directors recently survived defendants’ attempts to dismiss the case.
The class period is between August 21, 2013 and December 6, 2017. The case arises from Defendants’ false and/or misleading statements and/or failure to disclose that: (1) that OSI acquired the Albania concession through bribery or other illicit means; (2) that OSI transferred 49% of its project company associated with the Albania concession, S2 Albania SHPK, an entity purportedly worth millions, for consideration of less than $5.00; (3) that OSI engaged in other illegal acts, including improper sales and cash payments to government officials; (4) that these practices caused the Company to be vulnerable to potential civil and criminal liability, and adverse regulatory action; and (5) that, as a result of the foregoing, Defendants’ statements about OSI’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
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Johnson Fistel, LLP
Jim Baker, 619-814-4471