- Ericsson's Monitorship and Plea Agreement concluded on
June 2
- Follows upon certification of Ericsson's anti-corruption
compliance program by independent Monitor in March 2024
- Continuing to cooperate fully with DOJ and SEC investigations
on historical conduct
STOCKHOLM, June 3, 2024
/PRNewswire/ -- Ericsson (NASDAQ: ERIC) today announces the
conclusion of the work and term of the independent compliance
Monitor appointed by the U.S Department of Justice (DOJ) in June of
2020 in connection with Ericsson's 2019 Deferred Prosecution
Agreement (DPA) to resolve historical violations of the Foreign
Corrupt Practices Act (FCPA). The March
2023 Plea Agreement with the DOJ that followed non-criminal
breaches of the DPA has also expired as of June 2.
The role of the independent compliance Monitor over the past
four years has been to comprehensively review, assess, evaluate and
test all aspects of the company's global anti-corruption compliance
program and internal controls. On March 28,
2024, the Monitor certified to DOJ that Ericsson's
anti-corruption compliance program has satisfied requirements and
is functioning effectively.
Börje Ekholm, President and CEO of Ericsson, says: "This is an
important milestone in our journey to improve our organization.
Over the past four years we have implemented important compliance
requirements and processes. Our commitment to integrity is rock
solid and we have no tolerance for corruption, fraud
or other misconduct."
NOTES TO EDITORS:
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ABOUT ERICSSON:
Ericsson enables communications service providers and
enterprises to capture the full value of connectivity. The
company's portfolio spans the following business areas: Networks,
Cloud Software and Services, Enterprise Wireless Solutions and
Global Communications Platform. It is designed to help our
customers go digital, increase efficiency and find new revenue
streams. Ericsson's innovation investments have delivered the
benefits of mobility and mobile broadband to billions of people
globally. Ericsson stock is listed on Nasdaq Stockholm and on
Nasdaq New York. www.ericsson.com
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SOURCE Ericsson