Olympus delays results during scandal investigation

Camera maker Olympus will delay reporting its financial results from the second quarter until later in November, the company revealed on Friday. It is doing so because it needs time to hear out an independent committe's investigation on a scandal involving allegedly paying excessive fees when it aquired Gyrus and other companies. The committee will look into whether there was any illegitimate or inappropriate activity or improper management decisions relating to the deals.
"We felt we needed to watch the progress of the independent committee's investigation," Olympus said in a statement.
Michael Woodford, a former CEO, confronted other execs at Olympus regarding more than $1 billion he belie... »read more

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