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
|
No Nikon camera we've tested to date balances stills and video capture as well as the Nikon Z7. Though autofocus is less reliable than the D850, Nikon's first full-frame mirrorless gets enough right to earn our recommendation.
Nikon's Coolpix P1000 has moved the zoom needle from 'absurd' to 'ludicrous,' with an equivalent focal length of 24-3000mm. While it's great for lunar and still wildlife photography, we found that it's not suited for much else.
As a stills camera the Fujifilm X-T3 is a pleasant update to one of our favorite APS-C cameras, significantly improving the autofocus. If you're interested in stills and video, though, it's knockout.
The Nikon Z7 is slated as a mirrorless equivalent to the D850, but it can't subject track with the same reliability as its DSLR counterpart. AF performance is otherwise good, except in low light where hunting can lead to missed shots.
The Canon EOS R is the first full frame mirrorless camera to use the new RF mount. We're well underway putting it through our range of standard tests – take a look at how it compares to the competition and our thoughts on using it so far.
What's the best camera for under $500? These entry level cameras should be easy to use, offer good image quality and easily connect with a smartphone for sharing. In this buying guide we've rounded up all the current interchangeable lens cameras costing less than $500 and recommended the best.
Whether you've grown tired of what came with your DSLR, or want to start photographing different subjects, a new lens is probably in order. We've selected our favorite lenses for Sony mirrorlses cameras in several categories to make your decisions easier.
Whether you've grown tired of what came with your DSLR, or want to start photographing different subjects, a new lens is probably in order. We've selected our favorite lenses for Canon DSLRs in several categories to make your decisions easier.
Whether you've grown tired of what came with your DSLR, or want to start photographing different subjects, a new lens is probably in order. We've selected our favorite lenses for Nikon DSLRs in several categories to make your decisions easier.
What’s the best camera for less than $1000? The best cameras for under $1000 should have good ergonomics and controls, great image quality and be capture high-quality video. In this buying guide we’ve rounded up all the current interchangeable lens cameras costing under $1000 and recommended the best.
Comments