UK fraud agency will sue Olympus Corporation (7733.T) and imperial units back to false accounting, medical device manufacturers in Japan said on Wednesday, dragging a value of $ 170 million after accounting scandals in recent years become the focus the focus of the former.
Olympus into the red, and its shares tumbled after the details of a large number of hidden losses were found in late 2011, but it has been put back to profit and Sony Corporation (6758) to pay 5 billion yen (about $ 50 billion), as its this year the largest shareholder.
The move by the British Serious Fraud Office (SFO) of the guilty verdict three former executives at the Japanese court in July and the subsequent issue of shares scandal emerged after the revival of Olympus has put the incident behind its shares traded in scandal level before.
Three executives were fined and handed suspended sentences combined ? 7,000,000.
The company's shares fell 6.3 percent on Wednesday after the company said it would sue Olympus and gyrus Group Limited British company alleged breaches "SFO" law "in 2006 by forging in fiscal 2009 and 2010 financial accounts. stocks pared losses after the final fall of 2.9% in 2,798 yen.
Olympus said it would mark the first time, "the Securities and Futures Ordinance" has decided to sue a company, rather than personal, fraud and lack of precedent, it is unclear how long the proceedings might take what level may impose a fine. It added that the court proceedings will begin this month.
Olympus spokesman said the company was formed by the U.S. Department of Justice investigation is also still there.
Olympus $ 200 million U.S. dollars in 2008, a British medical device company, bought back. In addition to paying the world's largest M & A advisory fee, equivalent to one-third of the purchase price, Olympus later wrote along with a handful of other acquisition transaction value.
The agreement is covered up dating back as much as a decade or more, it comes lit, the British chief executive of Olympus, when Michael Woodford, blew the whistle was fired after a loss of investment part of the plan investment details.



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