NEW YORK, NY--(Marketwire -11/16/11)- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of Olympus Corporation ("Olympus" or the "Company") (Pinksheets: OCPNY.PK - News) American Depository Receipts ("ADRs") between November 7, 2006 and November 7, 2011 (the "Class Period").
For more information, click here: http://zlk.9nl.com/olympus-ocpny.
The complaint alleges that Olympus falsely represented its finances and hid substantial investment losses by disguising them as fees paid to now-defunct investment advisers in connection with certain acquisitions. The fraudulent accounting was revealed to the markets when Olympus' CEO was fired after demanding a full inquiry into the payments.
Olympus recently admitted to wrongfully "engaging in activities such as deferring the posting of losses on investment securities." The Company is currently under investigation by the SEC and FBI. The per-share value of Olympus ADRs dropped from a class period high of $35.00 to a closing price of $5.95 on November 10, 2011.
If you suffered a loss in Olympus ADRs you have until January 13, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/olympus-ocpny.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.
- Olympus Corporation
- American Depository Receipts
- United States District Court for the Eastern District of Pennsylvania
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171