Toshiba has filed a lawsuit Nov. 7 against five former executives, demanding a total of 300 million yen ($2.4 million) in compensation for their involvement in a recent accounting scandal. The legal action taken at the Tokyo District Court was based on a conclusion by the company’s investigation committee, which said the five executives effectively gave instructions to inflate earnings or neglected their responsibility to stop such practices in violation of the corporate law.

The lawsuit said the actions of three former presidents--Atsutoshi Nishida, Norio Sasaki and Hisao Tanaka--and two former chief financial officers--Fumio Muraoka and Makoto Kubo--damaged the company’s operations.

Toshiba's in-house panel investigated senior Toshiba officials who served between April 2008 and December 2014, during which time the company inflated its pretax profits by 22.48 billion yen.

Toshiba estimates it will cost more than 1 billion yen to revise its inacurate financial statements and pay penalty charges to stock exchange markets.