Olympus Corporation (OCPNF) Says Terumo Corporation Sues for $85 Million Over Share Loss

8/1/2012 7:50:53 AM

Olympus Corp said on Wednesday it had received a lawsuit filed by Terumo Corp over loss of its shareholder value. Olympus said Terumo, a Japanese medical device maker, is demanding to be compensated for a loss of around 6.6 billion yen ($84.5 million) on its shareholding. The loss followed a plunge in Olympus's share price after an accounting scandal came to light last year. Camera and endoscope maker Olympus said it does not expect any other similar lawsuits. Terumo holds a 2.5 percent stake in Olympus and has proposed to invest 50 billion yen in cash-strapped Olympus.

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