Olympus Faces FBI Probe Over $687M Merger Advisory Fee

Law360, New York (October 24, 2011, 5:09 PM EDT) -- The FBI is reportedly looking into a $687 million payment Olympus Corp. allegedly made for financial advice on its $2 billion takeover of British medical instruments maker Gyrus Group.

On Monday, the latest news surrounding Olympus' 2008 payment to little-known Axes Americas LLC and Axam Investments Ltd. stoked an already frenzied sell-off of the camera maker's stock. In Tokyo, Olympus' share price fell more than 10 percent to 1,099 yen ($14.44). Over the past two weeks, the company has lost half its value.

Numerous media outlets...
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