Ericsson: US court finds 'breach' of obligations

(CercleFinance.com) - Ericsson shares are down over 3% in Stockholm on Friday, after the group announced that the US courts consider that the group has failed to fulfill its obligations under an agreement reached at the end of 2019.


The Department of Justice (DoJ) criticizes the telecom equipment manufacturer for not having provided supporting documents and factual elements that were requested as part of the agreement.

In a brief statement, Ericsson says the DoJ plans to give it the opportunity to justify its failures by letter and even to present the corrective measures taken to remedy the situation.

However, Ericsson stresses that the US Department of Justice has the sole authority to decide on possible breaches, a position which means that it is premature to predict a possible outcome of the case at present.


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