Olympus surges more than 25 percent in heavy trade

Olympus surges more than 25 percent in heavy trade

Stock Market Predictions

TOKYO (Global Markets) - Shares of Olympus Corp (7733.T) soared more than 25 percent on Friday, on track for their fourth day of gains, as its ousted chief executive prepares to confront the men who sacked him last month after he blew the whistle on an accounting scandal.

Michael Woodford, still an Olympus director despite being fired as CEO, is attending the firm's scheduled board meeting on Friday in Tokyo, his first return to the boardroom since it unanimously dumped him on October 14.

Olympus was up 18.3 percent at 1,205 yen, after earlier rising as high as 1,276 yen. The shares have pared losses but are still down more than 50 percent from the day the scandal broke.

Big stockholders, a major governance advocacy group and Woodford have all called for the Olympus not to be delisted. Olympus has also said it will meet a December 14 deadline for filing its financial statements for the six-months to September.

(Reporting by Lisa Twaronite; Editing by Joseph Radford)