Update on Ericsson engagement with U.S. authorities

Rhea-AI Summary

On June 9, 2022, Ericsson (NASDAQ: ERIC) confirmed its cooperation with U.S. authorities as the SEC opens an investigation into the company's conduct in Iraq, following a previous report from 2019. The investigation's outcome is currently uncertain, and the company is fully committed to cooperating with the SEC's inquiries. This development reflects broader scrutiny of Ericsson's operations and compliance practices.

Positive

• None.

Negative

• SEC investigation into the company's conduct in Iraq.
• Uncertainty regarding the outcome of the SEC investigation.

STOCKHOLM, June 9, 2022 /PRNewswire/ -- As previously announced, Ericsson (NASDAQ: ERIC) has been engaged with authorities regarding the review and investigation of the Company's conduct in Iraq. The United States Securities and Exchange Commission (SEC) has notified the Company that it has opened an investigation concerning the matters described in the company's 2019 Iraq investigation report. It is too early to determine or predict the outcome of the investigation, but Ericsson is fully cooperating with the SEC.

MORE INFORMATION AT:

Contact person

Peter Nyquist, Head of Investor Relations
Phone: +46 705 75 29 06
E-mail: peter.nyquist@ericsson.com

Additional contacts

Stella Medlicott, Senior Vice President, Marketing and Corporate Relations
Phone: +46 730 95 65 39
E-mail: media.relations@ericsson.com

Media

Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com

This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7:00 pm CEST on June 9, 2022.

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Update on Ericsson engagement with U.S. authorities

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SOURCE Ericsson

FAQ

What is the SEC investigation about regarding Ericsson (ERIC)?

The SEC is investigating Ericsson's conduct in Iraq, as mentioned in its 2019 investigation report.

When did Ericsson announce their engagement with U.S. authorities?

Ericsson announced their engagement on June 9, 2022.

What does Ericsson (ERIC) say about the SEC investigation?

Ericsson stated that it is fully cooperating with the SEC in their investigation.

Is there any outcome predicted for the SEC investigation against Ericsson?

It is too early to determine or predict the outcome of the SEC investigation.