March 31, 2021 - The court denied the defendants' motion to dismiss.

March 26, 2020 - Another motion to dismiss the amended complaint was filed.

March 11, 2020 - The court denied the defendants' motion to dismiss.

July 24, 2019 - A motion to dismiss the amended complaint was filed.

June 13, 2019 - An amended complaint was filed.

May 7, 2019 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

July 3, 2018 - A motion to dismiss the consolidated complaint was filed.

May 4, 2018 - A consolidated complaint was filed.

December 8, 2017 - Another investor in shares of OSI Systems Inc (NASDAQ: OSIS) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by OSI Systems Inc in connection with certain allegedly false and misleading statements made between August 16, 2013 and December 5, 2017.

Hawthorne, CA based OSI Systems Inc, through its subsidiaries, is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications.

On January 18, 2012, OSI Systems Inc announced that Rapiscan had been awarded a six-year, $400 million contract to provide turnkey screening services to Mexico’s tax collection authority, Servicio de Administración Tributaria (“SAT”) (the “Mexico Turnkey Contract”).

On August 21, 2013, OSI Systems Inc announced that Rapiscan had been awarded a fifteen-year contract to provide turnkey screening services throughout Albania, stating that “[t]he Company currently anticipates that total gross revenues may range from $150 million - $250 million over the term of the agreement.”

According to the complaint the plaintiff alleges on behalf of purchasers of OSI Systems Inc (NASDAQ: OSIS) common shares between August 16, 2013 and December 5, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 16, 2013 and December 5, 2017, the defendants made false and/or misleading statements and/or failed to disclose that the pricing for the Mexico Turnkey Contract was premised on misrepresentations by the Company to SAT regarding the capabilities of Rapiscan’s equipment, and was accordingly overpriced relative to the value of the services provided to SAT, that consequently, the Mexico Turnkey Contract was unlikely to be renewed or was likely to be renewed at terms less favorable to OSI Systems Inc, that the Company’s revenues from the Mexico Turnkey Contract were therefore unsustainable, that OSI Systems Inc had secured the Albania Turnkey Contract by corrupt means, that the Company’s revenues from the Albania Turnkey Contract were thus likewise unsustainable, that OSI Systems Inc suffered from systemic, Company-wide problems with respect to legal and regulatory compliance, and that as a result, OSI Systems Inc’s public statements were materially false and misleading at all relevant times. OSI Systems Inc reported that its Total Revenue rose from $829.66 million for the 12 months period that ended on June 30, 2016 to $960.95 million for the 12 months period that ended on June 30, 2017 and that its Net Income for those respective time periods declined from $26.16 million to $21.08 million. Shares of OSI Systems Inc (NASDAQ: OSIS) grew from $49.79 per share in May 2016 to as high as $95.67 per share in October 2017.

On December 6, 2017, Muddy Waters Research published a report stating that OSI Systems “is rotten to the core” and “believe[s] [OSI Systems] obtained a major turnkey contract in Albania through corruption.” The report further stated that “[f]ormer employees’ statements support our view that OSIS is rotting from the inside.” Shares of OSI Systems Inc (NASDAQ: OSIS) declined to $53.80 per share on December 6, 2017.

On December 8, 2017, NASDAQ: OSIS shares closed at $68.42 per share.

December 8, 2017 - An investor in shares of OSI Systems Inc (NASDAQ: OSIS) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by OSI Systems Inc in connection with certain allegedly false and misleading statements made between August 21, 2013 and December 6, 2017.