OSI Systems Inc. (OSIS) announced Monday that its Security division, Rapiscan Systems, has been notified that the Department of Homeland Security issued a Notice of Proposed Debarment in connection with a Show Cause letter from the Transportation Security Administration received by Rapiscan in November 2012.
OSI Systems gapped open sharply lower this morning and is now down 8.15 at $58.19 on above average volume. The stock has dropped to a 2-week low and has fallen below its 50-day moving average.
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