Olympus has agreed to pay more than u00a337m to a shareholder who sued the firm for losses triggered by the share price crash that followed the accounting cover-up.

The settlement, to be paid to Japanese medical equipment provider Terumo Corporation, follows a 6.6 billion yen lawsuit filed in Tokyo last year.

Terumo held almost seven million shares in Olympus.

In a statement, Olympus said Terumo has agreed to dismiss its remaining claim against the company.

Olympus said it wanted to resolve the matter ‘swiftly’, in part to avoid the potential costs of a lengthy legal battle.

OLYMPUS SCANDAL BACKGROUND