Olympus Corporation - Securities Class Action

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Stanford Law School

Olympus Corporation Summary: According to a press release dated November 14, 2011, the Company violated federal securities laws by falsely representing its finances for over five years and hid large losses by characterizing them in its financials as "fees" paid to investment advisers for work on corporate acquisitions.

The complaint alleges these false statements by the Company artificially inflated its stock price and investors suffered heavy losses after the Company disclosed the truth about its financial statements on November 7, 2011. Investors' American Depository Receipts dropped dramatically from $13.72 on November 7, 2011, the last day of the Class Period, to $9.05 on November 8, 2011, or 34%. The Company’s top executives resigned in what has become a financial scandal in Japan. Recently, on its webpage, the Company admitted discovering that it had been wrongfully "engaging in activities such as deferring the posting of losses on investment securities."

INDUSTRY CLASSIFICATION:
SIC Code:
Sector: Consumer Cyclical
Industry: Audio & Video Equipment

COMPANY/ISSUER NAME:	Olympus Corporation
COMPANY/ISSUER TICKER:	OCPN
COMPANY WEBSITE:	http://www.olympus-global.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Lloyd Graham, et al. v. Olympus Corporation, et al.

COURT: E.D. Pennsylvania	DOCKET NUMBER: 11-CV-07103
JUDGE NAME: Hon. James Knoll Gardner
DATE FILED: 11/14/2011	SOURCE:
CLASS PERIOD START: 11/07/2006	CLASS PERIOD END: 11/07/2011
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Meredith, Cohen Greenfogel & Skirnick, P.C. One Liberty Plaza, 35th Floor, New York, NY, 10006-1404 (voice) 212.240.0020, (fax) , Sarraf Gentile LLP 116 John Street, Suite 2310, New York, NY, 10038 (voice) 212.868.3610, (fax) 212.868.3610, Vianale & Vianale LLP (Boca Raton) 2499 Glades Road, Suite 112, Boca Raton, FL, 33431 (voice) 561.392.4750, (fax) 561.392.4750, info@vianalelaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 11/14/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/17/2011

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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