$2.6M Olympus Shareholder Deal Gets Green Light

Law360, New York (January 28, 2014, 8:25 PM EST) -- A Pennsylvania federal judge preliminarily approved a $2.6 million settlement to be paid by Japanese camera and medical device manufacturer Olympus Corp., to resolve a shareholder class action claiming Olympus spent an exorbitant amount of money on advice for an acquisition.

The complaint was initially filed by Olympus shareholder Lloyd Graham in November 2011, accusing the company of failing to tell investors that it had paid “an unprecedented $687 million” fee — which far exceeded the typical Wall Street advisory fee of 1 to 2 percent...
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