A News Escort For Tokyo Escorts.

Olympus seeks up to nearly $50 million in compensation TOKYO – Japan’s disgraced Olympus Corp is suing 19 current and former executives, including its current president, for up to almost $50 million in compensation, as it struggles to recover from one of the nation’s worst accounting scandals.
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Olympus shares surged nearly 30 percent on the news, with investors betting the company’s clean-up efforts would help it to avoid a humiliating delisting from the Tokyo Stock Exchange, in turn helping to ensure it stayed on bidders’ radars.
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Rights issues are an unwieldy and rare in Japan and private equity firms are often viewed as foreign asset strippers.
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Sources told Reuters on Monday that the Tokyo Stock Exchange was likely to keep Olympus listed under a “security on alert” designation, which would effectively enable it to remain traded provided it showed steady improvement in its internal controls.

See the full article from “ABS CBN News”

~ by iarryflint on January 10, 2012.