January 10, 2012 04:30 am EDT

Olympus sues its own president, executives over accounting scandal

Remember that super crazy Olympus accounting scandal we told you about a couple of weeks back? Yeah, well, it just got super crazier. The camera maker is suing its own president, Shuichi Takayama and 18 other past and present executives over the dealie, in which it worked to conceal $1.7 billion in loses. The company filed in a Japanese court yesterday. On top of that, current board members have agreed to resign, moving aside for investors to vote on new management for the company.

Olympus sues its own president, executives over accounting scandal originally appeared on Engadget on Mon, 09 Jan 2012 23:30:00 EDT. Please see our terms for use of feeds.

Permalink | Business Week ||Comments

Original Link: http://www.engadget.com/2012/01/09/olympus-sues-its-own-president-executives-over-accounting-scand/

View Full Article

Engadget

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WI

More About this Source Visit Engadget