- 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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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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