STEVENSON, Md., Dec. 28, 2017 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of OSI Systems, Inc. (Nasdaq:OSIS) (“OSI” or the “Company”) securities during the period between August 16, 2013 and December 6, 2017, inclusive (the “Class Period”).  Investors who wish to become proactively involved in the litigation have until February 5, 2018 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action.  The lead plaintiff will be selected from among applicants claiming the largest loss from investment in OSI securities during the Class Period.  Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.  No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that OSI acquired the Albania concession through bribery or other illicit means, transferred 49% of its project company associated with the Albania concession, S2 Albania SHPK (“S2”), an entity purportedly worth millions, for consideration of less than $5.00, and engaged in other illegal acts, including improper sales and cash payments to government officials.

According to the complaint, following a December 6, 2017 report that the Company obtained a major contract in Albania through corruption, there was an unannounced transfer of 49% of OSI’s project company to a holding company for consideration of less than $5.00, and alleged improper sales, cash payments to government officials, and fraud in a significant contract, the value of OSI shares declined significantly.

If you have suffered a loss in excess of $100,000 from investment in OSI securities purchased on or after August 16, 2013 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.  If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.  You need take no action at this time to be a member of the class.

CONTACT:  Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com