A News Escort For Tokyo Escorts.

TOKYO (Reuters) – Japan’s disgraced Olympus Corp is suing its president and 18 other executives, past and present, for up to $47 million in compensation, as it struggles to recover from one of the nation’s worst accounting scandals.
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Olympus shares surged as much as 28 percent 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 percent.
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Rights issues are 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 “Yahoo!7 News”

~ by iarryflint on January 10, 2012.