Olympus sued for $273 million over accounting scandal
Reuters reports six Japanese trust banks have filed a lawsuit against Olympus for ¥27.9bn (around $273 million) in damages relating to the company’s false financial statements.
According to the report this is the fifth publicly recognized lawsuit stemming from a 2011 accounting scandal. Olympus said it would set aside ¥17bn ($166.49m) to settle three of those five suits.
The banks include: Mitsubishi UFJ Trust & Banking Corp., Master Trust Bank of Japan Ltd., Japan Trustee Services Bank Ltd., Trust & Custody Services Bank Ltd., Nomura Trust & Banking Co., and State Street Trust & Banking Co.
In 2011 Olympus was forced into the limelight when former Chief Executive Michael Woodford revealed the company had covered up more than $1.7 billion of losses and other business fees through illegal accounting practices.
The investigation into this scandal grew into one of the largest in Japan’s history, resulting in jail time for three former Olympus executives, including former chairman Tsuyoshi Kikukawa. Olympus was fined ¥700m ($7m) for violating securities laws.
For more details, read the original Reuters story.
|
|
|
|
Apr 4, 2017
|
Mar 22, 2017
|
Mar 21, 2017
|
Mar 20, 2017
|
The Sony a7 III sets a new benchmark for full-frame cameras thanks to its compelling combination of value and capability. It's at home shooting everything from sports to portraits, and is one of the most impressive all-around cameras we've seen in a long while. Find out all the details in our full review.
Canon's new EOS M50 mirrorless camera offers 4K video capture, expanded Dual Pixel AF coverage and improved connectivity. We've taken a closer look at these features and more in our in-depth review.
As digital imaging technology finds its way into more consumer devices, we here at DPReview do our best to keep you on the cutting edge. With that in mind, here's our first official review of a camera that can also shoot dog treats across the room.
Photographers shopping around for Lightroom alternatives have likely encountered Alien Skin's Exposure X3. Here's an overview of its organization and editing controls, and how they differ from the competition.
The Fujifilm X-H1 is a top-of-the-range 24MP mirrorless camera with in-body stabilization and the company's most advanced array of video capabilities. We've tested the X-T2's big brother extensively to see how it performs.
What's the best camera for a parent? The best cameras for shooting kids and family must have fast autofocus, good low-light image quality and great video. In this buying guide we've rounded-up several great cameras for parents, and recommended the best.
What's the best camera for shooting landscapes? High resolution, weather-sealed bodies and wide dynamic range are all important. In this buying guide we've rounded-up several great cameras for shooting landscapes, and recommended the best.
If you're a serious enthusiast or working pro, the very best digital cameras on the market will cost you at least $2000. That's a lot of money, but generally speaking these cameras offer the highest resolution, the best build quality and the most advanced video specs out there, as well as fast burst rates and top-notch autofocus.
Video features have become an important factor to many photographers when choosing a new camera. Read on to find out which cameras we think are best for the videophile.
What's the best camera for shooting sports and action? Fast continuous shooting, reliable autofocus and great battery life are just three of the most important factors. In this buying guide we've rounded-up several great cameras for shooting sports and action, and recommended the best.
Comments