In the most recent development in the now infamous accounting scandal involving Japanese camera maker Olympus Corp., company shareholders will reportedly sue the president Shuichi Takayama along with 18 other high-ranking executives for some $47 million in compensation.

WASHINGTON (Reuters) - The U.S. subsidiary of Japanese camera maker Olympus Corp. and U.S. regulators said on Tuesday that about 1.2 million 35-millimeter film cameras are being recalled to fix an overheating problem with the flash circuit.

By Kurt Blumenau, The Morning Call, Allentown, Pa. Dec. 18--Olympus Corp. ushered its m:robe onto the American market with fanfare in January, buying a Super Bowl ad to promote the combination music player and digital camera.

Tokyo, Nov. 9 (Jiji Press)--Olympus Corp. will allocate increased business resources to single-lens reflex digital cameras and optical devices by pulling out of the markets for digital music players and other unprofitable products, company officials said Wednesday.

By Penni Crabtree, The San Diego Union-Tribune Nov. 5--Cytori said yesterday it signed a deal with Japan-based Olympus Corp. to jointly develop a device that would allow doctors to treat heart patients with their own healing adult stem cells.