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Olympus wrongdoing 11 8 2011

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Olympus admits covering up losses
Camera maker admits to hiding losses with takeover fees.
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Olympus stock surges as firm sues its own executives
Camera-maker seeks $47m from 19 top managers over accounting anomalies.
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Olympus wrongdoing 11 8 2011

Olympus president Shuichi Takayama bows in apology during a press conference to acknowledge that the company used takeover fees to hide its losses.

Yoshikazu Tsuno
AFP/Getty Images