From Bloomberg Business
The U.K. Serious Fraud Office dropped its case against Olympus Corp. two years after charging the company with making false and misleading financial statements.
A London judge Tuesday released the Japanese company and its U.K. subsidiary Gyrus Group after the SFO decided not to offer evidence. An appeals court judge ruled earlier that a company isn’t covered under legislation that created the crime of misleading auditors. A lawyer for the SFO said there was “insufficient evidence” for a realistic chance of conviction.