June 5, 2019

DOJ and SEC end corruption investigation into Albania scanner deal

OSI Systems, Inc., a California-based designer and manufacturer of electronic systems and components used in the security, healthcare and defense industries, has announced that the US Department of Justice and the Securities and Exchange Commission both closed their investigations into possible violations of the Foreign Corrupt Practices Act without taking any action against OSI.  
In December 2017, a short seller issued a report accusing OSI of corruptly obtaining a contract in Albania, along with other general corruption allegations.  OSI reported that shortly following this report, the SEC and the DOJ commenced investigations.  Several shareholder lawsuits related to the corruption allegations were also filed shortly after the short seller report was released.  The consolidated class action was dismissed in May 2019.

Form 8-K (1 February 2019)