Vianale & Vianale LLP Announces That Only One Securities Class Action Lawsuit Has Been Filed on Behalf of Investors Against O...

On November 14, 2011, a class action lawsuit was filed against Olympus Corporation ("Olympus") (OTCBB:OCPNY) (OTCBB:OCPNF) on behalf of purchasers of Olympus American Depository Receipts between November 7, 2006 and November 7, 2011, inclusive (the "Class Period").

Although several press releases have been published by other firms about Olympus, the only securities fraud class action that has been actually filed on behalf of Olympus shareholders has been the one filed by this firm and Sarraf Gentile LLP. According to the filed complaint, Olympus admitted that it had falsely characterized large losses on its financial statements as "fees" paid to its financial advisers. These false statements and omissions, according to the complaint, artificially inflated Olympus' stock price during the Class Period. Investors in the stock suffered heavy losses after Olympus publicly disclosed the truth about its financial statements on November 7, 2011, causing its stock price to drop more than 30% on the next trading day.  

If you purchased Olympus American Depository Receipts (OTCBB:OCPNY) (OTCBB:OCPNF) during the Class Period, you have until January 13, 2012, to ask the Court to appoint you as lead plaintiff, a representative of the proposed class.  If you want to discuss your legal rights, at no cost and without obligation, please contact Vianale & Vianale LLP, a law firm with extensive experience litigating shareholder class actions. 

CONTACT: Kenneth Vianale
         Vianale & Vianale LLP
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