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Whistleblower Michael Woodford to tackle Olympus in court in London on May 28
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Bruce
May 27, 2012, 7:37:29 PM5/27/12
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From Reuters UK:
(Reuters) - Michael Woodford, the ousted chief executive of Olympus
(7733.T), will try to persuade a London judge his embattled former
employer fired him because he blew the cover off one of Japan's most
high-profile corporate frauds.
The five-day hearing, which starts on Monday, will throw the spotlight
back onto a $1.7 billion accounting scandal that has cost the
camera-to-endoscope maker its board and reputation.
Woodford, chief executive for just two weeks before he was sacked, was
expected to sue for up to 10 years' lost salary in a multi-million
pound claim that could mark a record payout.
By bringing a claim on the grounds of whistleblowing and
discrimination in the employment tribunal in east London, Woodford's
damages are unlimited, depending on whether he is likely ever to
regain a career at global CEO level again.
Olympus has surprised some legal experts by failing to date to reach a
settlement with Woodford, who has already published a book about his
experiences in Japanese and plans another in English around October.
END QUOTED TEXT
For the rest of the article, go to:
<http://uk.reuters.com/article/2012/05/27/uk-olympus-woodford-lawsuit-idUKBRE84Q0H120120527>
(Reuters) - Michael Woodford, the ousted chief executive of Olympus
(7733.T), will try to persuade a London judge his embattled former
employer fired him because he blew the cover off one of Japan's most
high-profile corporate frauds.
The five-day hearing, which starts on Monday, will throw the spotlight
back onto a $1.7 billion accounting scandal that has cost the
camera-to-endoscope maker its board and reputation.
Woodford, chief executive for just two weeks before he was sacked, was
expected to sue for up to 10 years' lost salary in a multi-million
pound claim that could mark a record payout.
By bringing a claim on the grounds of whistleblowing and
discrimination in the employment tribunal in east London, Woodford's
damages are unlimited, depending on whether he is likely ever to
regain a career at global CEO level again.
Olympus has surprised some legal experts by failing to date to reach a
settlement with Woodford, who has already published a book about his
experiences in Japanese and plans another in English around October.
END QUOTED TEXT
For the rest of the article, go to:
<http://uk.reuters.com/article/2012/05/27/uk-olympus-woodford-lawsuit-idUKBRE84Q0H120120527>
RichA
May 28, 2012, 8:19:15 AM5/28/12
to
No pay money! Was mistake to hire gaijin!!
Wolfgang Weisselberg
May 28, 2012, 6:50:57 AM5/28/12
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Bruce <docne...@gmail.com> wrote:
> From Reuters UK:
[removed material copied without permission]
So now you're an URL spammer?
-Wolfgang
> From Reuters UK:
[removed material copied without permission]
So now you're an URL spammer?
-Wolfgang
Bruce
May 29, 2012, 8:28:50 AM5/29/12
to
START QUOTE:
Michael Woodford, who was seeking $60m (£38m) for unfair dismissal
from Olympus where he exposed one of Japan's biggest corporate frauds,
has agreed an out-of-court settlement with the camera-to-endoscope
maker.
The terms of the expected multi-million pound deal were not
immediately disclosed, but reports today suggested it could be around
£10 million (US $16 million).
Any settlement will be subject to approval by Olympus's board when it
meets in June.
On Monday, the employment tribunal began in London but was delayed by
the judge until this morning, raising the prospect of a deal.
END QUOTE
<http://www.telegraph.co.uk/finance/financial-crime/9292399/Whistleblower-Michael-Woodford-settles-with-Olympus.html>
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