LM Ericsson Telephone Co (Telefonaktiebolaget LM Ericsson) – Investors of Ericsson (NASDAQ: ERIC) Who Have Suffered Financial Losses Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether Telefonaktiebolaget LM Ericsson (“Ericsson”) (NASDAQ: ERIC) violated federal securities laws.
On February 16, 2022, The Telegraph reported that “Ericsson has admitted that it may have bribed the terrorist group Islamic State in return for being allowed to use roads through Iraq.”
On this news, shares of Ericsson were down more than 14% in pre-market trading on February 16, 2022.
Ericsson Provides Update on Deferred Prosecution Agreement
On March 2, 2022, Ericsson reported that “[o]n December 6, 2019, Ericsson entered into a Deferred Prosecution Agreement (DPA) with the United States Department of Justice (DOJ). On March 1, 2022, the DOJ informed Ericsson that the disclosure made by the company prior to the DPA about its internal investigation into conduct in Iraq in the period 2011 until 2019 was insufficient. Furthermore, it determined that the company breached the DPA by failing to make subsequent disclosure related to the investigation post-DPA. The company is in communication with the DOJ regarding the facts and circumstances of the breach determination and is committed to co-operating with the DOJ to resolve the matter.” (Emphasis added.)
ERICSSON INVESTORS WHO HAVE SUFFERED FINANCIAL LOSSES ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S “SECURITIES CLASS ACTION QUESTIONNAIRE.“
ERICSSON INVESTORS ARE ALSO ENCOURAGED TO CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], [email protected], TO DISCUSS THE ERICSSON SECURITIES CLASS ACTION INVESTIGATION AND POTENTIAL LEGAL CLAIMS.