Reuters reports that Olympus will sue it current president and former directors. The company is under investigation for fraud in reprts of its financials
Reuters reports that
An Olympus spokesman confirmed on Monday that lawsuits had been filed but declined to give details, saying these would be revealed at an announcement due on Tuesday. The writs are sealed and were not available for public examination on Monday.
An outside investigative panel recently found former Chairman Tsuyoshi Kikukawa, former Executive Vice President Hisashi Mori and former auditor Hideo Yamada had played leading roles in a 13-year scheme to hide losses from Olympus investors.
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