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Ericsson now also being investigated by the SEC for its conduct in Iraq

40841 ericsson now also being investigated by the sec for its conduct in iraq

The U.S. listed-shares of Ericsson ERIC, -5.88% slid 0.9% in afternoon trading Thursday, after the Sweden-based telecommunications equipment company said the regulatory investigation into its conduct in Iraq now includes the U.S. Securities and Exchange Commission. The company had previously disclosed that the U.S. Department of Justice was investigating its conduct in Iraq during the period 2011 until 2019, alleging historical corruption. In March 2022, the DOJ had said disclosures made by Ericsson breached the Deferred Prosecution Agreement (DPA) as the company failed to make disclosures related to the investigation post-DPA. Ericsson’s stock has dropped 25.2% year to date, while the S&P 500 SPX, -2.91% has lost 14.0%.

Source: Marketwatch

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