Olympus to pay $34M for damages lawsuit settlement: 3 key notes

Tokyo, China-based Olympus reached a settlement with its foreign investors for $34 million in damages over an accounting scandal, Reuters reports.

Here's what you should know.

1. Olympus will pay $34 million to its foreign investors and they will dismiss remaining claims against the company.

2. In 2012, Olympus allegedly made several irregular payments for its acquisitions that resulted in a significant asset impairment charges. False financial statements concealed approximately ¥376 billion yen , according to the New York Times.

3. The company will record the payment as a special loss for its third quarter. It expects no change to the full year group forecast.

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