Olympus Investor Sues Over Merger Fee Scandal

Law360, New York (November 15, 2011, 5:05 PM EST) -- An Olympus Corp. shareholder lodged a proposed class action Monday accusing the Japanese camera and medical device maker of hiding stock losses by paying exorbitant fees for merger advice.

In a complaint filed in Pennsylvania federal court, Lloyd Graham seeks to represent all those who bought American Depository Receipts for Olympus stock between Nov. 7, 2006, and Nov. 7, 2011. Graham faults Olympus for failing to tell investors that it had paid "an unprecedented $687 million" fee for advice on its $1.9 billion acquisition of British...
To view the full article, register now.