NEW YORK, April 8, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/telefonaktiebolaget-lm-ericsson-loss-submission-form/?id=25684&from=4
The lawsuit seeks to recover losses for shareholders who purchased Telefonaktiebolaget LM Ericsson between April 27, 2017 and February 25, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 2, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Telefonaktiebolaget LM Ericsson issued materially false and/or misleading statements and/or failed to disclose 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
