- The U.S. SEC intimated Ericsson (NASDAQ:ERIC) regarding its launch of an investigation on the company concerning the matters described in the company’s 2019 Iraq investigation report.
- Ericsson said it cooperated with the authorities regarding their review and investigation of its conduct in Iraq.
- Previously CEO Borje Ekholm’ disclosed that Ericsson may have made payments to the ISIS terror organization to gain access to specific transport routes in Iraq.
- Ericsson had identified “unusual expenses dating back to 2018” and was yet to determine the final recipient of the money.
- Ericsson also acknowledged that financing terrorism was entirely unacceptable.
- Price Action: ERIC shares traded lower by 0.91 at $8.13 on the last check Thursday.
SEC Launches Probe On Ericsson Over Its Iraq Connection
The U.S. SEC intimated Ericsson (NASDAQ:ERIC) regarding its launch of an investigation on the company concerning the matters described in the company’s…
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