OSI Takes L-3 to Court

Hawthorne, CA – OSI Systems has filed a complaint against L-3 Communications alleging that L-3 defrauded and breached fiduciary duties related to OSI and L-3’s joint bid for the Detections Systems business L-3 purchased earlier this year from PerkinElmer. The complaint further alleges that L-3 violated California’s unfair competition law and that L-3’s conduct prevented OSI from synergistic benefits and profits. OSI is seeking over $100 million in punitive damages. L-3 did not release a statement.

< | >