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NEW YORK--([ BUSINESS WIRE ])--Harwood Feffer LLP ([ www.hfesq.com ]) announces that a class action suit was filed on November 14, 2011 in the United States District Court for the Eastern District of Pennsylvania against Olympus Corp. (aOlympusa or the aCompanya) (Pink Sheets: OCPNY) on behalf of all purchasers of the Companyas American Depository Receipts (aADRsa) between November 7, 2006 and November 7, 2011 (the aClass Perioda). Plaintiffs allege violations of the Securities Exchange Act of 1934 against Olympus and several individual defendants.
"engaging in activities such as deferring the posting of losses on investment securities."
For years, Olympus, a Japanese company, falsely represented its finances and hid large investment losses by disguising them as hundreds of millions of dollars in fees paid to now-defunct investment advisers in connection with certain acquisitions. The fraudulent accounting was revealed to the markets when Olympusa CEO was fired after demanding a full inquiry into the payments.
The per share value of the Olympus ADRs dropped from a class period high of $35.00 to a closing price of $5.95 on November 10, 2011. Olympus recently admitted to wrongfully aengaging in activities such as deferring the posting of losses on investment securities.a In the U.S., the SEC and FBI are investigating Olympus.
Harwood Feffer is investigating these claims. If you purchased Olympus ADRs during the Class Period and either lost money or still hold your shares, you have until the January 13, 2012 to ask the Court to appoint you lead plaintiff for the class. If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
| Robert I. Harwood, Esq. |
| Peter W. Overs, Jr., Esq. |
| Benjamin Sachs-Michaels |
| Harwood Feffer LLP |
| 488 Madison Avenue |
| New York, New York 10022 |
| Phone Numbers: (877) 935-7400 |
| (212)935-7400 |
Email: [ bsachsmichaels@hfesq.com ] |
Website: [ http://www.hfesq.com ] |
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ([ http://www.hfesq.com ]) for more information about the firm.
Attorney Advertising. 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ([ www.hfesq.com ]). Prior results do not guarantee or predict a similar outcome with respect to any future matter.