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...
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Case Information

Case Title

GRAHAM v. OLYMPUS CORPORATION et al


Case Number

5:11-cv-07103

Court

Pennsylvania Eastern

Nature of Suit

Other Statutes: Securities/Commodities

Judge

JEFFREY L. SCHMEHL

Date Filed

November 13, 2011

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