A News Escort For Tokyo Escorts.

… TOKYO — Japan’s disgraced Olympus Corp is suing its president and 18 other executives, past and present, for up to $47 US million in compensation, as it struggles to recover from one of the nation’s worst accounting scandals.Photograph by: Handout, Vancouver Sun
…
Olympus shares surged as much as 28 per cent on the news, with investors betting the company’s clean-up efforts would help it avoid a humiliating delisting from the Tokyo Stock Exchange, in turn helping to ensure it stayed on bidders’ radars. The stock ended up 20 per cent.
…
Rights issues are unwieldy and rare in Japan and private equity firms are often viewed as foreign asset strippers.
…
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 “Vancouver Sun”

~ by iarryflint on January 10, 2012.