January 20, 2012 / 9:58 PM / 6 years ago

Lawyers to ask shareholders to sue Olympus: report

(Reuters) - A group of about 30 consumer affairs lawyers will ask Olympus Corp shareholders to sue the company and its former executives for damages from a long-running cover-up of investment losses, The Nikkei business daily said.

The legal team is also considering action against the scandal-hit camera and endoscope maker’s auditing firms, the daily said, and added that the lawsuits would be filed this spring.

The lawyers will launch a website to seek shareholder plaintiffs and hold information sessions, The Nikkei said.

A key figure in the legal team, which was formed on Friday, is Chohei Yonekawa, head of the team that represented Livedoor shareholders pursuing damages after the Internet company’s accounting scandal, the business newspaper said.

Reporting by Ashutosh Pandey in Bangalore; Editing by Roshni Menon

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