NEW YORK, April 12, 2022 /PRNewswire/ — The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Telefonaktiebolaget LM Ericsson ERIC alleging that the Company violated federal securities laws.
Class Period: April 27, 2017 to February 25, 2022
Lead Plaintiff Deadline: May 2, 2022
No obligation or cost to you.
Learn more about your recoverable losses in ERIC:
Telefonaktiebolaget LM Ericsson NEWS – ERIC NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Telefonaktiebolaget LM Ericsson made 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.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Telefonaktiebolaget LM Ericsson you have until May 2, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Telefonaktiebolaget LM Ericsson securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the ERIC lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: