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Jan 24, 2020 | Regulatory release

Ericsson reports fourth quarter and full-year results 2019

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Dec 06, 2019 | Regulatory release

Ericsson reaches resolution on U.S. FCPA investigations

  • Ericsson has entered into a three-year Deferred Prosecution Agreement (DPA) with the U.S. Department of Justice (DOJ) to resolve criminal charges related to violations of the FCPA.  This relates to accounting violations of the FCPA in five countries including in Djibouti where there is also a charge of bribery. In the agreement, the DOJ agrees to defer the prosecution of those charges and to have them dismissed at the end of the term in exchange for Ericsson complying with the conditions of the DPA. Conditions include a payment by Ericsson of a fine of USD 520,650,432. As part of the resolution with the DOJ, Ericsson's Egyptian subsidiary has entered a guilty plea to the bribery charge in Djibouti.
  • Separately, Ericsson agreed to resolve civil charges brought by the Securities and Exchange Commission (SEC) relating to allegations of violations of the bribery and accounting provisions of the FCPA.  Ericsson agreed to the entry of a judgment enjoining it from future violations of the FCPA and it agreed to pay a financial sanction of USD 458,380,000, plus pre-judgment interest of USD 81,540,000.
  • As part of the settlement, Ericsson has agreed to engage an independent compliance monitor for a period of three years while the Company continues to undertake significant reforms to strengthen its Ethics & Compliance program.
  • The combined payment of USD 1.06 b. (SEK 10.1 b.) as per above is fully covered by the SEK 11.5 b. provision taken in Q3 2019.

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Oct 17, 2019 | Regulatory release

Ericsson reports third quarter results 2019

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Sep 25, 2019 | Regulatory release

Ericsson estimates costs for resolving investigations by U.S. authorities at SEK 12 b. and makes provision in third quarter

  • As previously disclosed, Ericsson has been co-operating voluntarily with investigations by the United States Securities and Exchange Commission (SEC) and with the United States Department of Justice (DOJ) regarding the Company’s compliance with the U.S. Foreign Corrupt Practices Act (FCPA).
  • Ericsson makes a SEK 12 b. provision related to resolving the investigations, that will impact the third quarter 2019 results, to cover an estimated monetary sanction of USD 1.0 b, plus other related costs. The process to find a resolution is still ongoing.

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Aug 22, 2019 | Regulatory release

Ericsson announces changes to the Executive Team

  • Fadi Pharaon is appointed Senior Vice President, and Head of Market Area Middle East & Africa, effective September 1, 2019
  • Member of Ericsson's Executive Team, reporting to CEO

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Jul 17, 2019 | Regulatory release

Ericsson reports second quarter results 2019

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Apr 26, 2019 | Regulatory release

Ericsson’s Nomination Committee appointed

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