$92.4 million settlement in largest securities-fraud recovery of its kind in Japan
Plaintiff(s)
Institutional investors represented by Grant & Eisenhofer, U.S. co-counsel, and Japanese counsel
Case type / claims
Securities fraud action alleging Olympus concealed massive losses for years through sham advisory-fee payments tied to corporate acquisitions.
Defendant(s)
Olympus Corporation
Jurisdiction
Japan
Year:
2015
Outcome
- Secured a $92.4 million settlement – largest settlement of its kind in Japan.
- Exposed multi-year accounting fraud that had wiped out over 80% of Olympus Corp.’s market capitalization (more than $6 billion).
- Result contributed to regulatory investigations and criminal convictions of company executives in Japan, the UK and the U.S.
