NEW YORK, April 7, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Telefonaktiebolaget LM Ericsson ("Telefonaktiebolaget LM Ericsson" or the "Company") (NASDAQ: ERIC) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Telefonaktiebolaget LM Ericsson investors who were adversely affected by alleged securities fraud between April 27, 2017 and February 25, 2022. Follow the link below to get more information and be contacted by a member of our team:
https://www.zlk.com/pslra-1/telefonaktiebolaget-lm-ericsson-loss-submission-
form?prid=25622&wire=4
ERIC investors may also contact Joseph E. Levi, Esq. via email
at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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'S NEXT? If you suffered a loss in Telefonaktiebolaget LM Ericsson during the relevant time frame, you have until May 2, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
