Olympus Quells Contract Feud With Ousted CEO

Law360, New York (May 30, 2012, 3:30 PM EDT) -- Olympus Corp. has settled an unfair dismissal lawsuit by its whistleblowing ex-CEO Michael Woodford, who called the company out on $1.7 billion in unreported losses that led to criminal charges against its former executives, Olympus said Wednesday.

The terms of the tentative settlement are undisclosed and the settlement has to be approved by the Olympus board of directors at a June 8 meeting.

Woodford was ousted from Olympus’ top job in October after he questioned high advisory fees paid during past mergers, and he sued the...
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