In 2011, Olympus was rocked by a financial scandal after it fired its British CEO who had raised questions about over $1 billion in questionable "acquisitions" between 2006 and 2008. As the truth was uncovered, seven Olympus officials were arrested for fraud and the former CEO settled a lawsuit for $15.5 million. Now the famous camera brand's scandal is being made into a TV series.
Some would say that the Olympus accounting scandal is officially over, insofar as jail sentences (or, rather, the lack thereof) have been doled out by the Japanese justice system. Even the company's stock has rebounded and is currently sitting about 25% higher than it was before the dive it took when the company's seedy business dealings came to light.
But stocks rebounding and executives getting off almost scott free aside, Olympus' battle against the backlash from the scandal is far from over, as both Japanese and overseas entities continue to pursue legal action.
Olympus has been in the photography game since introducing its first camera back in 1936, but its future as …