Settled, Japan, 2016
Clients of Deminor reached an in-court settlement before the Tokyo District Court on 26 December 2016 on the Olympus case, where they will recover 45% of their recoverable losses for which they claimed compensation in the lawsuit. A group of more than 60 institutional investors federated by Deminor sought the reimbursement of damages for losses suffered following the revelation in 2011 of a decade-long fraudulent scheme at Olympus. The stock price lost more than half of its value following the announcement of accounting irregularities. Upon payment, this settlement represents the highest recovery thus far achieved by non-Japanese investors, relative to the amount of their claims, in any of the lawsuits settled so far by Olympus.