Japan's Olympus faces lawsuits from six trust banks

Seeking total compensation of $273 mn

(ANSA) - Rome, April 9 - Japanese optical equipment giant Olympus is facing lawsuits from six trust banks who want compensation over false financial statements from 2000 to 2011.
    The financial institutions are seeking a total of 28 billion yen or $273 million.
    Olympus was entangled in one of Japan's biggest accounting scandals which emerged in October 2011. Chief executive Michael Woodford turned whistleblower and revealed investment losses which had been hidden for many years.
    The six banks include Mitsubishi UFJ Trust and Banking, the Nomura Trust and State Street Trust.


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