OSI Systems Shares Drop After Short Seller Alleges Misrepresentation of Mexico Revenues
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OSI Systems shares dropped more than 7% in recent trading on Thursday after a short seller report said that the company misrepresented its financials regarding its Mexican business. A Culper Research report said the company was falling behind on its contract obligations with Mexico's Ministry of Defense but alleged that it had already recognized 81% of the project's product and installation revenues. Trading volume stood at around 640,000 shares against a daily average of about 222,000.
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