Olympus To Pay Investors $92M Over Alleged Fraud

By Cara Salvatore (April 2, 2015, 12:10 PM EDT) -- Electronics maker Olympus Corp. of the Americas has reached an 11 billion yen ($92 million) out-of-court settlement in Japan with institutional investors over allegations of accounting fraud, a litigation funding company related to the matter said Thursday.

The settlement was reached March 27, according to a statement by litigation funder and alternative-dispute-resolution specialist DRRT, which was involved in the case.

Olympus has been embroiled in controversy since 2011, when former Olympus CEO Michael Woodford first revealed an accounting fraud by questioning exorbitant advisory fees paid during past mergers.

A preliminary settlement was reached in October 2013 but details were not hammered...

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