Swedish network equipment maker Ericsson has reached a settlement of more than 1 billion dollars in a major American corruption case. The company has known debt and is also being monitored by an external party for three years.
“Ericsson’s corrupt behavior was with high-level executives, covering a span of seventeen years and at least five countries, in a misguided attempt to increase profits,” a justice statement said.
Ericsson had already set aside a billion dollars because of the case. In the investigation justice cooperated with the American stock market watchdog Securities & Exchange Commission (SEC).
Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com
