YORK, April 15, 2022 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Telefonaktiebolaget LM
Ericsson (NASDAQ: ERIC).
To receive updates on the lawsuit, fill out the
The lawsuit seeks to recover losses for shareholders who
purchased Telefonaktiebolaget LM Ericsson between April 27, 2017 and February 25, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
May 2, 2022 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Telefonaktiebolaget LM Ericsson
issued materially 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law