Levi & Korsinsky, LLP announces that an ERIC class action lawsuit has been filed on behalf of investors who purchased Telefonaktiebolaget LM Ericsson NEWS (ERIC) securities between April 27, 2017, and February 25, 2022 For more on the ERIC Lawsuit please contact us today.
According to the Telefonaktiebolaget LM Ericsson lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Ericsson overstated the extent to which it had reformed its business practices to eliminate the use of bribes to secure business in foreign countries; (ii) Ericsson had paid bribes to the terrorist group the Islamic State in Iraq and Syria to gain access to certain transport routes in Iraq; (iii) accordingly, the Company’s revenues derived from its operations in Iraq were, in at least substantial part, derived from unlawful conduct and thus unsustainable; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Telefonaktiebolaget LM Ericsson you have until May 2, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171