Olympus sues executives over scandal
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Xinhua, January 10, 2012
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Former Olympus CEO Michael Woodford speaks during a news conference at the Japan National Press Club in Tokyo Jan. 6, 2012. [CFP] |
Japan's scandal-hit Olympus Corp. lodged damages suit against its 19 former and current executives, including its president, over cover-ups of massive investment loss, local media reported Tuesday.
The company said it was demanding 3.61 billion yen (about US$47 million) from those executives allegedly involved in the scandal dating back to the 1990s, according to Kyodo News report.
The maker of camera and medical equipment filed the suit on Sunday at the Tokyo District Court. Its president Shuichi Takayama and other board members are reported to resign after the next extraordinary shareholders meeting, scheduled for March or April.
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