( Financial Times ) -- Michael Woodford , the whistleblowing ex-chief executive of Olympus , will seek up to $ 60m of compensation from his former company at an employment tribunal hearing scheduled to start on Monday in east London . The hearing has been postponed until midday , however , which could allow time for the two parties to settle . The British executive is claiming unfair dismissal and discrimination after he was sacked just two weeks after becoming chief executive in October . Mr Woodford 's removal from his job came after he raised concerns that eventually led to the exposure of a Â¥130bn ( $ 1.6bn ) accounting scandal at the Japanese maker of optical equipment . Mr Woodford is expected to sue for up to 10 years of lost earnings . At the time of his dismissal , he had almost four years to run on his contract . The hearing is scheduled to last five days and will hinge in part on whether Mr Woodford 's dismissal falls within the London tribunal 's jurisdiction . If unsuccessful , Mr Woodford could sue for defamation in the High Court of England and Wales , or launch proceedings against Olympus for breach of contract in Japan . Mr Woodford initially campaigned to be reinstated as chief executive , before announcing plans to take legal action against Olympus in January . The Japanese camera maker has struggled to draw a line under the scandal . Shares in Olympus fell by more than 80 per cent in the weeks following its disclosure and are still less than half their pre-scandal levels . © The Financial Times Limited 2012 .
Michael Woodford , the whistleblowing ex-chief executive of Olympus , will seek up to $ 60M . The U.S. Securities and Exchange Commission is investigating whether executives at Olympus, which has been struggling with a huge accounting scandal for months, misled investors about its financial health. His allegations led to resignations and arrests of top Olympus officials .