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Dozens of foreign investors file second lawsuit against Olympus

JIJI

Scandal-tainted Olympus Corp. said Monday that it is facing another lawsuit launched by 68 foreign institutional investors who are demanding about ¥5.9 billion in damages.

The suit was brought to the Tokyo District Court on Dec. 13. Olympus received the petition on Friday, the sullied optical equipment maker said.

Investors in the United States, Britain, Canada and elsewhere claim they lost money after an accounting scandal disclosed by its first foreign president, who was summarily fired, shredded its stock price and crippled the company, forcing it to seek tieups.

The collective suit is the second filed against Olympus by foreign investors.