Olympus Corp. (7733.TO) said Monday corporate investors have
filed a damages lawsuit against it seeking a total of Y5.8 billion
in connection with the company's coverup of massive investment
losses, Kyodo News reported.
The camera and medical equipment maker said 68 companies,
including overseas institutional investors, had filed the case with
the Tokyo District Court claiming they incurred losses due to a
drop in Olympus' share price because of the coverup scandal.
The plaintiffs, including pension and investment funds in the
United States and Europe, claim the company's share price fell
after Olympus revealed it made false financial statements from the
business year ending March 2001 to the year ending March 2011.
"We will study the complaint and deal with it appropriately," a
spokesperson for Olympus said.
In June last year, a separate Y19.1 billion damages suit was
lodged against Olympus by European and U.S. institutional
investors.
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