Faruqi & Faruqi, LLP Announces Investigation of Olympus Corporation

Faruqi & Faruqi, LLP, a leading national securities firm, is investigating potential securities fraud at Olympus Corporation (“Olympus” or the “Company”) (OTC: OCPNY.PK).

The investigation focuses on the Company’s admission that it hid investment losses since the 1990’s by falsely characterizing these investment losses as fees paid to various corporate advisors. In 2008, for example, Olympus paid a $687 million advisory fee on its $2.2 billion purchase of British company Gyrus. Advisory fees in similar transactions typically amount to two percent of the overall transaction cost.

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On October 14, 2011, Michael C. Woodford was fired as president and CEO of Olympus, a mere two weeks after being appointed, for questioning the Company’s excessive advisory fees in the Gyrus deal. On November 8, 2011, Olympus admitted that it hid investment losses by, among other things, characterizing the losses as fees paid to its Gyrus transaction advisers. Once the Company disclosed the truth regarding its financial statements, Olympus’ American Depository Receipts (“ADRs”) dropped from a close of $13.72 per share on November 7, 2011 to $9.05 per share on November 8, 2011, representing a 34% single-day decline. Since then, Olympus has become the target of investigations by the United States Securities Exchange Commission, the Federal Bureau of Investigations, and numerous overseas regulatory and investigative bodies.

Take Action

If you purchased Olympus ADRs between November 7, 2006 and November 7, 2011 and would like to discuss your legal rights, visit www.faruqilaw.com/OCPNY. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [e-mail] or [e-mail]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Olympus’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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