Olympus To Remain Listed Company Despite Trouble
The Tokyo Stock Exchange will continue to allow Olympus to remain a listed public company. The news is something of a surprise. The firm’s stock prices has collapsed as it has become engulfed in a financial fraud scandal. It fired…
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The Tokyo Stock Exchange will continue to allow Olympus to remain a listed public company. The news is something of a surprise. The firm’s stock prices has collapsed as it has become engulfed in a financial fraud scandal. It fired its CEO late last year. Several board members may be sued.
MarketWatch reports that
The Tokyo Stock Exchange said a number of people were involved over time in the plot by the company to hide unrealized losses related to bad financial investments by using secret accounts. However, it also noted the cover-up wasn’t of a kind that would lead to significant misinterpretation of profit levels or performance trends in consideration of the company’s scale
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