Shares in scandal-hit Olympus Corp tumbled for a fourth straight day on Wednesday, adding to pressure on management to address allegations by its former chief executive that it had paid improper M&A fees. The stock has lost about 45 percent since the shock dismissal of former CEO Michael Woodford on Friday. Woodford has told media he was sacked for questioning $680 million in payments to financial advisers in the purchase of Britain's medical equipment firm Gyrus in 2008, or one-third of the transaction price. The stock was down 3.2 percent at 1,372 yen, falling as much as 6.4 percent at one point and underperforming a 0.2 percent rise in Tokyo's electric machinery subindex .
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
