Olympus panel clears auditing firms of blame in scandal

Last Updated: Tuesday, January 17, 2012, 09:39

Accounting groups KPMG and Ernst & Young have been cleared of responsibility for a USD 1.7 billion accounting fraud at Japan's Olympus Corp, one of the nation's worst corporate scandals, in a report issued on Tuesday by a company-appointed panel of lawyers.

Samsung not looking at Olympus stake but open to alliance

Last Updated: Friday, January 13, 2012, 09:36

Samsung Electronics ruled out making a bid for the healthcare business of Japan's troubled Olympus Corp on Friday, though a source close to the South Korean firm said it remained open to some form of non-equity partnership.

Olympus mulls tie-up with Sony & Panasonic: Report

Last Updated: Thursday, January 12, 2012, 11:28

Japan's Olympus Corp is scouting the global electronics industry for a friendly investor to help it recover from an accounting scandal and has put Sony and Panasonic on its short list, a newspaper said on Thursday.

Japan's Olympus sues execs over scandal, shares surge on M&A hopes

Last Updated: Tuesday, January 10, 2012, 14:17

Japan's disgraced Olympus Corp is suing 19 current and former executives, including its current president, for up to almost USD 50 million in compensation, as it struggles to recover from one of the nation's worst accounting scandals.

Olympus sues current and past executives: Reports

Last Updated: Monday, January 9, 2012, 13:30

Olympus said it would disclose the report's findings and discuss the company's future plans tomorrow.

Olympus eyes $1.2 billion suit, president may resign

Last Updated: Sunday, January 8, 2012, 21:58

Scandal-tainted Olympus Corp is considering suing current and former executives for compensation totaling about 90 billion yen (USD 1.2 billion), while its new president is considering resigning, a source familiar with the matter said.

Woodford to sue Olympus, drops leadership bid

Last Updated: Saturday, January 7, 2012, 09:01

The ousted British CEO of disgraced Olympus Corp, who blew the whistle on a USD 1.7 billion accounting fraud, dropped his bid to return to lead the medical device maker, blaming cozy ties between its management and big Japanese shareholders and saying the saga had taken its toll on his family.

Woodford drops Olympus CEO bid

Last Updated: Friday, January 6, 2012, 17:05

Michael Woodford, British CEO of Olympus Corp dropped his bid to return to the medical device maker, blaming cosy ties between its scandal-tainted management and big Japanese shareholders.

Woodford ends battle to return as Olympus CEO

Last Updated: Friday, January 6, 2012, 09:36

The ousted CEO of Olympus Corp, Michael Woodford, said on Friday he is calling a halt to his three-month battle to replace the management of the scandal-tainted Japanese endoscope maker and to return to lead the battered company.

No violations in handover: Olympus audit panel

Last Updated: Tuesday, December 27, 2011, 09:40

A panel reviewing auditing at Olympus Corp said it had so far found no violations of accounting guidelines in the handoff to the Japanese arm of Ernst & Young from another auditor, which drew questions from a previous panel looking into a USD 1.7 billion accounting scandal.

Prosecutors raid Olympus over accounting scandal

Last Updated: Wednesday, December 21, 2011, 09:37

Japanese prosecutors raided Olympus Corp units on Wednesday in connection with a huge accounting scandal that has threatened the existence of the 92-year-old maker of cameras and medical equipment, Japanese media reported.

Olympus aims to tap Sony, others for $1.3 bn in new capital: Report

Last Updated: Tuesday, December 20, 2011, 09:27

Olympus Corp is preparing to issue about USD 1.28 billion (100 billion yen) in new shares with Japanese high-tech stalwarts Sony and Fujifilm seen as likely buyers as it tries to bolster its depleted finances, the Nikkei business daily reported.