Hot UK tech stock gets cold shower as CEO’s past probed

Firm looking into reports that Oozi Cats is fugitive Uzi Katz

NEW YORK: Telit Communications Plc, a once hot Internet of Things stock, had the equivalent of a cold shower this week, losing more than half its market value in a matter of days as the company hired lawyers to investigate reports linking chief executive officer Oozi Cats to an old fraud case.