Olympus sues its current and former managers claiming $1.7bn

Olympus Corp. announced it will request to cover losses valued at $1.7bn, created by firm's president, Shuichi Takayama and 18 other past and present executives which are accused for involving in a scheme to shroud investment losses. Olympus gained 21% in Tokyo morning trade lifted by investor hopes that company will remain publicly traded in stock exchange.