Press release
Investigation for Investors in shares of Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF) announced
An investigation for investors in Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF) shares.
Investors who purchased shares of Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF) concerning whether a series of statements by Telefonaktiebolaget LM Ericsson regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Sweden based Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. Telefonaktiebolaget LM Ericsson reported that ist annual Total Revenue declined from over $232.39 billion in 2020 to over $232.31 billion in 2021, and that its Net Income increased from over $17.48 billion in 2020 to $22.69 billion in 2021.
Telefonaktiebolaget LM 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. Telefonaktiebolaget LM Ericsson 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.
Shares of Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF) declined from $12.66 per share on February 14, 2022 to as low as $9.23 per share on February 24, 2022.
Those who purchased shares of Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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