August 1, 2012 / 8:33 AM / 7 years ago

Olympus says Terumo sues for $85 million over share loss

A man sits near a logo of Japan's Olympus Corp at the company headquarters in Tokyo June 19, 2012. REUTERS/Yuriko Nakao

TOKYO (Reuters) - Olympus Corp said on Wednesday it had received a lawsuit filed by Terumo Corp over loss of its shareholder value.

Olympus said Terumo, a Japanese medical device maker, is demanding to be compensated for a loss of around 6.6 billion yen ($84.5 million) on its shareholding.

The loss followed a plunge in Olympus’s share price after an accounting scandal came to light last year.

Camera and endoscope maker Olympus said it does not expect any other similar lawsuits.

Terumo holds a 2.5 percent stake in Olympus and has proposed to invest 50 billion yen in cash-strapped Olympus.

($1 = 78.1000 Japanese yen)

Reporting by Miki Kayaoka; Editing by Michael Watson

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