Ericsson To Record Charge In Q4 For Potential Resolution With DOJ

(RTTNews) - Ericsson (ERIC) said it is now in a position to make a provision of approximately $220 million in relation to a potential resolution with the U.S. Department of Justice regarding non-criminal, alleged breaches under 2019 Deferred Prosecution Agreement. The charge will be booked in the company's fourth quarter 2022 financial results. The company noted that it has not reached a resolution with the DOJ and discussions are ongoing.

The DOJ previously notified the company that it failed to provide documents and information to the DOJ in a timely manner and did not adequately report to the DOJ certain information relating to a 2019 Iraq-related internal investigation.