Ericsson Updates On Deferred Prosecution Agreement With U.S. DoJ

(RTTNews) - Ericsson (ERIC), in an update on deferred prosecution agreement with the United States Department of Justice, said that at this stage it is premature to predict the outcome of the developments. DOJ has sole discretion under the DPA to determine whether a breach occurred.

Ericsson said it intends to respond to DOJ and to continue cooperating with DOJ consistent with the terms of the DPA, including requirements regarding production of documents.

In December, 2019, Ericsson entered into a deferred prosecution agreement with the Department of Justice in connection with a criminal information filed in the U.S. District Court for the Southern District of New York charging the Company with conspiracies to violate the anti-bribery, books and records, and internal controls provisions of the Foreign Corrupt Practices Act.

An Ericsson subsidiary, Ericsson Egypt Ltd, pleaded guilty on the same day to a one-count criminal information charging it with conspiracy to violate the anti-bribery provisions of the FCPA. As per the agreement with the department, Ericsson paid a total penalty of over $520 million.