Olympus to sue executives following scandal

Olympus Corp has decided to sue 19 current and former executives, including current president Shuichi Takayama, in a lawsuit relating to an accounting scandal, according to a Reuters report.

The problems first came to light in October following the sacking of Michael Woodford from the role of CEO for questioning sketchy acquisition deals.

Woodford took those questions public, resulting in a scandal that has exposed many of the company's executives, including former chairman Tsuyoshi Kikukawa, former executive vice president Hisashi Mori, former company auditor Hideo Yamada, and other current directors.

All current board members subject to the lawsuit will resign by April, Olympus says. The company has lost nearly 60% of its value since the scandal broke.