TOKYO (Reuters) – Olympus Corp’s ousted CEO Michael Woodford said he may seek to invalidate the endoscope maker’s Friday extraordinary shareholder meeting in courts, after Olympus management refused to answer a question about his dismissal.
Executives were asked at the shareholders meeting if they still sticking to the view that Woodford was fired for gross misconduct but declined to answer, citing legal issues.
Woodford, who lifted the lid on a 13-year, $1.7 billion accounting fraud at the company, said that the company’s refusal to answer contravened Japanese law, allowing shareholders to seek to invalidate the meeting.
The extraordinary shareholder meeting is expected to approve the appointment of a new board of directors at the scandal-hit company.
(Reporting by Tim Kelly; Writing by Mayumi Negishi; Editing by Edwina Gibbs)
