Strategic Intelligence for CFOs, Finance Directors, Controllers and Treasurers in Asia |
2012, May 23
2012, May 23 Japan's Olympus Corp. may sue executives involved in hiding losses for over a decade, reports Bloomberg.
In a statement to the Tokyo Stock Exchange, the camera maker says it will announce on Jan. 10 its response to a report made by a panel probing the criminal activities.
The panel report recommends that Olympus seek damages of more than 90 billion yen ($1.2 billion) from more than 10 current and past executives, including President Shuichi Takayama, for covering up massive losses. Former Chief Executive Officer Michael Woodford, who was fired after he questioned $1.5 billion in takeover costs, is suing the company over his dismissal.
MORE ARTICLES ON OLYMPUS SCANDAL
CFO innovation Asia Accounting and Regulation the Asia Pacific resource center for senior finance executives, daily news, analysis, best practice and case studies in Accounting Regulation, IFRS, US GAAP, Tax, investor relations, corporate governance, Corporate Law, Financial Regulators, Internal Audit, Audit, Corporate Law. |
CFO innovation Asia, Finance and Banking the Asia Pacific resource center for senior finance executives, daily news, analysis, best practice and case studies in Corporate Finance, trade finance, treasury and risk management, capital expenditure, Banking, mergers and acquisitions |
CFO innovation Asia the Asia Pacific resource center for senior finance executives, daily news, analysis, best practice and case studies in Finance Management, Corporate Governance, Human Resource Management, Compensation and Benefits, Mergers and Acquisitions, Professional Development, Corporate Real Estate, Risk Management, Budgeting and Forecasting, Business Process Management, Business Process Reengineering, Outsourcing. |
CFO innovation Asia Technology the Asia Pacific resource center for senior finance executives, daily news, analysis, best practice and case studies in Finance Systems, Business Intelligence, EPR, Accounting software, CRM, Cloud Computing, Telecommunications, Business Process Outsourcing, Business Process Management Software. |
1 comments
Print
Digg
Very interesting article! I can't believe what i read in here! There is a big issue and deserve a better look! Hope there will be a follow up article!
Asigurari CASCO