Olympus eyes $1.2 billion suit - while president considering to resign

[ via Reuters ] 8 Jan

Scandal-tainted Olympus Corp is considering suing current and former executives for compensation totaling about 90 billion yen ($1.2 billion), while its new president is considering resigning, a source familiar with the matter said.

The endoscope maker is preparing a suit to help cover damages from a $1.7 billion accounting fraud that has savaged the 92-year-old firm's finances, market cap and reputation, the source said.

Read more: Reuters

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Posted in: Business, Olympus