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 Monday, but recovered ground in early trade, before settling into a range. The stock finished down by 5.04 at $61.30 on strong volume. OSI Systems fell to a one-week low.
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