So whatever happened in this situation?

Used Olympus medical fiberoptic endoscopes for years - they created the market, made plenty of $ with their medical line, really went off track recently with this debacle. No way I would ever invest in this company - no transparency in the Japanese market, not really a publicly traded company, rather a bank owned insider run enterprise. Not a bright future I fear....

A commentary on the state of this particular company's "unusual" management style and the interesting relationship (admittedly not unique) between lending banks and stock. And considerably >0 fwiw.

Agree, except by all reports this guy was a lifelong and loyal Olympus employee who brought the information to the board and was fired. Only then did he attempt to change board...not quite the typical corporate raider Carl Icahn model of a hostile takeover. Perhaps the European press covered the story differently than US but that was the thrust here. I think Olympus makes very high quality products, as does Matsushita (aka Panasonic). I certainly spent enough time looking through an Olympus fiberoptic bronchoscope at airways!