- 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."
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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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Ericsson announces
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