24 Jan '12, 7am

Olympus shareholders lodge $3.6 million damages suit

Olympus shareholders lodge $3.6 million damages suit

A group of Japanese shareholders have filed a lawsuit against disgraced Olympus, demanding US$2.9 million (S$3.6 million) for investment losses after a huge accounting scandal depressed the firm's shares. -- PHOTO: REUTERS TOKYO (AFP) - A group of Japanese shareholders have filed a lawsuit against disgraced Olympus, demanding US$2.9 million (S$3.6 million) for investment losses after a huge accounting scandal depressed the firm's shares. The 220 million yen (S$3.6 million) claim was filed Tuesday with the Osaka District Court in western Japan by 38 former and current shareholders, including an institutional investor, their lawyer said in a statement. It is the first damages case against the camera and endoscope maker in connection with the scandal, according to Masaro Kato, who heads the plaintiffs' legal team. The shareholders in the case bought Olympus stock before Nov 7...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

Tweets

Australian Online Stockbrokers & Shareholders T...

spectrum.ieee.org 23 Jan '12, 5pm

A Sydney Morning Herald article reports that the Australian Securities & Investment Commission (ASIC) has issued a warning...

Opponents of Lynas to file suit

malaysianbar.org.my 28 Jan '12, 2am

KUALA LUMPUR: Opponents of the controversial Lynas Advanced Material Plant in Pahang will file a court injunction to put a...

Disgraced Olympus president to resign in April

Disgraced Olympus president to resign in April

channelnewsasia.com 18 Jan '12, 12pm

TOKYO: The president of Japan's scandal-hit Olympus, who has been sued by his own company and disgraced over a cover-up of...