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OSIS > SEC Filings for OSIS > Form 8-K on 16-Nov-2012All Recent SEC Filings

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Other Events

Item 8.01. Other Events

On November 15, 2012, OSI Systems, Inc. responded to media reports regarding testing of its Advanced Imaging Technology (AIT) systems by the U.S. Transportation Security Administration ("TSA") and a show cause letter that its Security division, Rapiscan Systems, received from the TSA on November 9, 2012. The letter, which pertains to a privacy system that Rapiscan was developing under a contract for the TSA, alleges that Rapiscan did not disclose issues related to the development process in a timely or complete manner.

In connection with its response, the Company issued a press release stating that Rapiscan did not falsify test data or engage in fraudulent conduct. A copy of the press release is attached hereto as Exhibit 99.1.

The Company continues to work closely with the TSA and, while there can be no assurance, believes that the matter is likely to be resolved in the near future.

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