Olympus - Law Deliverable 2

Olympus spent nearly one billion dollars from 2006 to

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extremely inflated sum for the commission of the broker who made the deal happen. Olympus spent nearly one billion dollars from 2006 to 2009 on three companies from the Cayman Islands. Recently after acquiring the companies, they were disbanded and stopped doing business. Woodford knew that this was not right, so he reported his findings to the board of the company, knowing that they would share his alarm over such matters. However, when he went to the board, he was straightforwardly told to stop investigating those files, since it was not part of his job. However, his search did not end there. When it came back to the board that he continued his in-house investigation, he was abruptly fired. He wrote all his findings down and sent it to the Wall Street Journal that published the findings. He fled Japan because he was scared for his life after unearthing a scandal far colossal than what he originally suspected. Olympus has since been raided, and six big wigs have been arrested. The company’s stock plummeted, and 2 Woodford v Olympus, November 28, 2011, http://www.nytimes.com/2011/10/18/business/global/ousted-olympus-chief-accuses-the- company-of-fraud.html?pagewanted=all
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while the value of the poor stock did not reflect the value the perennial industry leader, we could not afford to invest because fears that any further investigation will uncover more legal issues, and future expectations for the company seem unstable in the years to come (“Scandal at Olympus”).
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Works Cited Christopher Peters, by His Father and next Friend Grady Peters, and Grady Peters and Rosetta Peters Individually, Plaintiffs, v. Texas Instruments Incorporated, Defendant. UNITED STATES COURT OF FEDERAL CLAIMS. 16 Sept. 2011. LexisNexis Academic . Web. 22 Apr. 2012. Powell, Bill. "Scandal at Olympus: The CEO Who Knew Too Much." Time . Time, 28 Oct. 2011. Web. 22 Apr. 2012. <http://www.time.com/time/world/article/0,8599,2098115,00.html>. "Texas Instruments - Environment & Safety - Management and Employee Commitment and Accountability." Texas Instruments . Web. 22 Apr. 2012. <http://www.ti.com/corp/docs/company/citizen/esh/meca.shtml>.
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