NEW YORK, Nov. 21, 2011 /PRNewswire/ -- 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")
(PINK: OCPNY) 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
jlevi@zlk.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.
CONTACT:
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
www.zlk.com
SOURCE Levi & Korsinsky, LLP