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Whistleblower wins massive payout

Michael Woodford, former CEO at Olympus, who was sacked after blowing the whistle on a massive fraud at camera maker Olympus, recently won a multi-million pound out of court settlement with the Japanese company.

Woodford was fired two weeks into the job last October after persistently warning about corruption at the top of the company.

The Company has since admitted it hid 117.7 billion yen (£955 million) in investment losses dating back to the 1990s.

An out of court settlement of Woodford’s case was widely expected.

The terms of the settlement have not been disclosed but reports suggest that he would receive the pay he was entitled to for the remainder of his contract, which could be worth up to £10 million.

Please contact me if you would like advice on Whistle blowing.

Clare McDairmant, Solicitor, Just Employment Solicitors

 

 

 

Clare McDairmant, Solicitor, Just Employment Solicitors.

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