The Olympus corporate corruption scandal that concealed more than 117.7 billion yen ($1.5 billion) was one of the biggest loss-concealing financial scandals in the history of corporate Japan.
It wiped 75-80% off the company's stock market valuation; led to investigations across Japan, the UK and the US and saw the arrest of 11 past of present directors, senior managers, auditors bankers of Olympus for alleged criminal activities or cover-up.
FRA's part in this settlement was acting as the economic adviser to clients of Deminor Recovery Services in their legal action against Olympus Corporation. Deminor's clients, a group of more than 60 institutional investors, will recover 45% of the recoverable losses for which they claimed compensation in the lawsuit. Upon payment, this settlement will be the highest recovery relative to the amount of the claim achieved by non-Japanese investors in any of the lawsuits settled so far by Olympus.
