Olympus sued for $273 million over accounting scandal

Olympus issued false prospectus’s and annual reports upon which investing and lending was done. They falsified information and when caught, Olympus share price and bonds fell, both of which were collateral for money lent.

This was likely a breach of the investment contacts between Olympus and the banks and now the banks seek to recoup their losses suffered by their shareholders at the expense of Olympus shareholders (and, likely, customers). Right now Olympus has a very, very poor credit profile.

Source Article from http://www.dpreview.com/news/2014/04/10/olympus-sued-for-273-million-over-accounting-scandal