Rigrodsky & Long, P.A. Announces Class Action Lawsuit Against Olympus Corporation

Rigrodsky & Long, P.A. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities who purchased or otherwise acquired the American Depository Receipts (“ADRs”) of Olympus Corporation (“Olympus” or the “Company”) (Pink Sheets: OCPNY.PK) between November 7, 2006 and November 7, 2011, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 (the “Complaint”).

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Noah R. Wortman, Case Development Director of Rigrodsky & Long, P.A., 919 North Market Street, Suite 980 Wilmington, Delaware, 19801 at [phone], by e-mail to [e-mail], or at: http://investigations.rigrodskylong.com/olympus-corporation-ocpny/.

Olympus engages in the manufacture and sale of precision machineries and instruments worldwide, including, but not limited to: imaging systems, medical systems, life science systems, and information and communication systems.

The Complaint names Olympus and certain of the Company’s current and former directors and officers as defendants. The Complaint alleges that during the Class Period, Olympus intentionally hid losses incurred by the Company and falsely represented such losses in the form of inflated fees. Specifically, it is alleged that the Company engaged in a scheme to hide and defer unrealized losses on investments made since the 1990s by making inflated payments for acquisitions and advisor fees and stock buy backs, such that Olympus’ financial disclosures for the years ending 2005 through 2011 were materially false and misleading. The fraudulent accounting was revealed to the markets when Olympus’ Chief Executive Officer was fired after demanding a full inquiry into the payments.

As a result of the foregoing revelations, Olympus is now being investigated by both the Japanese and American authorities. Moreover, in reaction to the foregoing news, on November 8, 2011, Olympus’ ADRs fell more than 34% to close at $9.05 per ADR from its close of $13.72 per ADR on November 7, 2011.

If you wish to serve as lead plaintiff, you must move the Court no later than January 13, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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