NEW YORK, Jan. 11, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of purchasers of OSI Systems, Inc. (Nasdaq: OSIS ) securities during the period between January 24, 2012 and December 6, 2013, inclusive, seeking to recover damages for violations of the federal securities laws.
To join the OSI Systems class action, visit the firm's website at http://rosenlegal.com , or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the Complaint, the Company failed to disclose and/or materially misstated its true financial and business condition because: (a) the Company manipulated an 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) the Company's products raised strong privacy concerns and were subject to disqualification for use in airport security checkpoints; and (iii) the Company manufactured its products with parts that directly violated contracts with the TSA, thereby risking cancellation of the contracts. When this adverse information was revealed, the price of the Company's securities fell, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than February 10, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com . You may also visit the firm's website at http://rosenlegal.com .
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 www.rosenlegal.com
