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February 5, 2023

Olympus Decides Fighting Lawsuits for Accounting Scandal Not a Pretty Picture

Olympus Corp, proud owner of a $1.7 billion accounting scandal, decided to say sayōnara to 11 billion yen ($92 million) to settle two civil lawsuits brought by investors.

The company, who also settled litigation in the U.S. for $2.6 million in 2013, "had been defending against the claims, but decided that 'swiftly resolving this matter through settlement' was best to avoid further litigation and related legal costs."  No fun!

[Reuters]

 
 

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