Los Angeles - (NewMediaWire) - February 18, 2022 - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Telefonaktiebolaget LM Ericsson (“Ericsson” or “the Company”) (NASDAQ: ERIC) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ericsson disclosed on February 16, 2022, that an internal investigation identified payments in Iraq to facilitate alternate routes to avoid Iraqi Customs. Some of these routes were controlled by insurgent groups including the Islamic State. The Company claimed that it could not pinpoint if any employees were involved in directly funding such organizations, but several employees did leave the Company based on the results of the investigation. Based on this news, shares of Ericsson dropped by 11.6% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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The Schall Law Firm
Brian Schall, Esq.