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News Breaks | | | | November 15, 2012 | | 14:40 EDT |  | OSIS | OSI Systems responds to media reports regarding testing of AIT systems
OSI Systems announced that on November 9, Rapiscan Systems, its Security division, was delivered a show cause letter from the U.S. Transportation Security Administration. The letter, which pertains to a privacy system Rapiscan was developing under contract for the TSA, alleges that Rapiscan did not disclose issues related to the development process in a timely or complete manner. Contrary to some press reports, Rapiscan did not falsify test data; in fact, TSA testimony to Congress today confirms that this was at all times a government controlled test and that Rapiscan could not have manipulated any test data. Furthermore, the evidence shows that Rapiscan delivered for testing the exact configuration previously disclosed to TSA and which TSA had approved. "At no time did Rapiscan Systems falsify test data or engage in any fraudulent conduct," OSI Systems President and CEO, Deepak Chopra, commented. "We take the matter very seriously and are fully cooperating with the TSA during this process." | |
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News For OSIS From The Last 14 Days Check below for free stories on OSIS the last two weeks. |
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| May 22, 2013 | | 06:22 EDT |  | OSIS | OSI Systems sell-off on department notice overdone, says Benchmark Co.
Benchmark Co. believes the sell-off in shares of OSI Systems following the company's Notice of Proposed Debarment is overdone. The firm said its sources indicate the probability of debarment for OSI is extremely low. Benchmark Co. keeps a Buy rating on the stock with a $70 price target. | | | May 20, 2013 | | 09:08 EDT | | OSIS | OSI Systems says DHS issued Notice of Proposed Debarment
 Subscribe for More Information | | | 08:47 EDT | | OSIS | OSI Systems trading halted, pending news
Subscribe for More Information | | | May 15, 2013 | | 11:30 EDT |  | OSIS | OSI Systems management to meet with Oppenheimer
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