Olympus Panel Urges Suing Executives, Kyodo Says

(Corrects attribution in headline, story.)

Olympus Corp. (7733) should seek damages of more than 90 billion yen ($1.2 billion) from more than 10 current and past executives, including President Shuichi Takayama, for covering up massive losses, according to an independent panel, the Kyodo news service reported. Takayama is preparing to resign and will hold a press conference tomorrow, the report said.

To contact the reporter on this story: Chris Cooper in Tokyo at ccooper1@bloomberg.net

To contact the editor responsible for this story: Jim McDonald at jmcdonald8@bloomberg.net

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