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Olympus Corporation Message Board

  • overrated_author overrated_author Nov 13, 2011 8:19 PM Flag

    Limit-up in Tokyo today

    Nov 14 (Reuters) - Shares of Olympus Corp were untraded with a glut of buy orders on Monday after a source familiar with the case said a levy could be imposed for false financial reports, a move which could prevent a delisting.

    Orders were indicated at 540 yen, up 17 percent from Friday's close of 460 yen.

    Authorities are investigating Olympus after the company admitted it hid investment losses for decades using funds from M&A payments. Media reports on Saturday said police and regulators were joining forces in a rare collaborative effort to examine the cover-up.

    The Tokyo stock exchange placed the stock on its supervisory post last week and warned it could be delisted if it fails to report earnings by Dec. 14.

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