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Ericsson says U.S. DoJ deems investigation disclosure insufficient -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: An exterior view of Ericsson’s headquarters in Stockholm, Sweden. January 24, 2020. TT News Agency/Fredrik Sandberg via REUTERS

STOCKHOLM, (Reuters) – Ericsson (BS) was informed Wednesday that the disclosures made to U.S. Department of Justice about an internal investigation into Iraqi conduct were inadequate.

Ericsson made the statement in an email that said it was premature to forecast what would happen at this time.

Ericsson entered into a Deferred Prosecution Agreement, (DPA), with the DoJ. He paid over $1 billion to settle a separate series of investigations into corruption and agreed to work with the department on ongoing investigations.

Last month, the company announced that in 2019, an internal investigation had revealed serious breaches in its compliance regulations in Iraq. It also found evidence of corrupt behavior and improper use by sales agents and consultants.

The company didn’t comment on whether or not the DoJ had been informed of the investigation. However, those familiar with this matter confirmed to Reuters that DoJ was aware.

Now, the DoJ believes Ericsson has violated the DPA. Ericsson failed to disclose information related to the investigation after signing the DPA Dec. 6, 2019.

Ericsson stated that it is in contact with the DOJ to discuss the circumstances and facts of the breach determination.

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