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Olympus sued by 6 banks over accounting fraud; largest in a series of suits

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Bloomberg reports Olympus Sued for $273 Million After 13-Year Fraud.

Six banks filed suit claiming 27.9 billion yen ($273M) damages from the drop in stock price after the fraud was disclosed.

The article says Olympus was sued in November 2012 by a group of investors. That claim was for 19.1B Yen ($186M). That one had been preceded by 14 other suits.

Written by Jim Ulvog

April 16, 2014, 8:43 am at 8:43 am

Posted in Fraud

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