On 4 September 2013 the SFO announced that it had commenced criminal proceedings against Gyrus Group Ltd and its parent company, Olympus Corporation, for the making of a statement to an auditor which was misleading, false, or deceptive contrary to section 501 of the Companies Act 2006. Gyrus Group Ltd faces four charges and Olympus Corporation one charge. The case was originally accepted by the SFO for investigation on 9 November 2011 after referral by the CEO of Olympus Corporation, Michael Woodford. The first hearing took place at Westminster Magistrates’ Court on 10 September 2013.