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Jury Awards OSI Systems $125M in Suit Against L-3

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NEW YORK, May 25, 2005 -- A federal jury found that defense contractor L-3 Communications committed fraud against OSI Systems Inc., a Hawthorne, Calif.-based maker of security and inspection systems, in connection with the purchase of  PerkinElmer Inc.'s security detection systems business in 2002 and awarded OSI $125 million in damages, OSI announced today. "The jury found that L-3 breached its fiduciary duty to, and committed fraud against, OSI," and awarded OSI $33 million in compensatory damages and $92 million in punitive damages, the OSI statement said. The jury also found that OSI breached a confidentiality...Read full article

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    Published: May 2006
    CommunicationsdamagesdefensefraudjuryL-3L-3 CommunicationsNews & FeaturesOSIOSI SystemsPerkin Elmersecurity detection

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