A Model For Olympus Shareholder Litigation

Law360, New York (January 5, 2012, 7:08 PM EST) -- The admission by Olympus Corporation of a JPY 135 billion ($1.8 billion)[1] accounting scandal[2] and the dramatic drop in the company’s share price since news of the irregularities became public leave little doubt that litigation will result.[3]

The U.S. Supreme Court’s 2010 ruling in Morrison v. National Australia Bank Ltd. (561 U.S. 08-1191 (2010)) closed the door to international investors seeking recovery through the U.S. courts for fraud-related losses unless the transactions were executed in the U.S. Morrison precludes all but Olympus’ American Depository Receipts buyers[4],...
To view the full article, register now.