Foreign investors file Olympus suit

JIJI

Olympus Corp. said Tuesday it is being sued for a total of ¥16.8 billion by 43 foreign institutional investors for damages caused by accounting irregularities by the camera and endoscope maker.

The class-action lawsuit from foreign institutional investors, the third of its kind against the firm, was filed with Tokyo District Court on June 27. The plaintiffs are mainly from the U.S. and Canada.

The amount of compensation sought by institutional investors in Japan and abroad from Olympus now totals ¥51.9 billion.