Japanese firm Olympus and its UK arm Gyrus Group are being prosecuted by the Serious Fraud Office in a move reigniting a 1.7 billion US dollar (£1.1 billion) global accounting scandal.
The camera and medical equipment maker said the group and its British subsidiary have been charged by the Serious Fraud Office (SFO) with allegedly providing " misleading, false or deceptive" material in accounts for Gyrus for the 2009 and 2010 financial years.
Gyrus faces four charges and Olympus faces one charge, with the alleged offences said to have taken place between April 2010 and March 2011, according to the SFO.
The prosecution will revive a fraud case that came to light two years ago when mammoth investment losses were uncovered dating back more than a decade.
The group's takeover of Reading-based Gyrus for £935 million in 2008 was one of the deals called into question as part of a cover-up of the losses.
Three former Olympus chiefs - previous chairman Tsuyoshi Kikukawa and executives Hideo Yamada and Hishashi Mori - were given suspended jail sentences in July after pleading guilty to falsifying accounts to hide 1.7 billion dollars of losses.
Olympus was also ordered to pay 700 million yen (£4.5 million) in fines earlier this year by a Japanese court.
The affair was uncovered when former Olympus UK chief executive Michael Woodford blew the whistle about the firm's accounting practices, claiming he was fired for raising questions over suspiciously large payments relating to acquisitions, including the Gyrus takeover.
The SFO, which has been conducting its own investigations since November 2011, said the first hearing in the case will take place at Westminster Magistrates' Court on September 10.
Olympus said it was "unclear" what financial impact the SFO case would have on the group, adding it was " difficult to predict the outcome of this matter or estimate the level of fines that may be imposed".
The company is well-known for its digital cameras, but is also one of the world's largest medical camera makers.
Its acquisition of Gyrus saw it expand its medical division and enhance its position in America, where Gyrus has a significant presence.
Gyrus makes a range of keyhole surgery equipment, from forceps to tiny cameras used to view internal organs.