An investigation on behalf of current long term investors in Telefonaktiebolaget LM Ericsson (publ) (OTC:ERIXF) shares over possible breaches of fiduciary duty by certain officers and directors was announced
San Diego, CA -- (SBWIRE) -- 08/08/2022 -- An investigation was announced for long-term investors in shares of Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF) concerning potential breaches of fiduciary duties by certain directors of Telefonaktiebolaget LM Ericsson.
Investors who are current long term investors in Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in OTC: ERIXF stocks follows a lawsuit filed against Telefonaktiebolaget LM Ericsson (publ) over alleged securities laws violations. The investigation on behalf of current long term investors in OTC: ERIXF stocks, concerns whether certain Telefonaktiebolaget LM Ericsson directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that, the defendants made false and/or misleading statements and/or failed to disclose that Telefonaktiebolaget LM Ericsson overstated the extent to which it had reformed its business practices to eliminate the use of bribes to secure business in foreign countries, that Telefonaktiebolaget LM Ericsson had paid bribes to the terrorist group the Islamic State in Iraq and Syria ("ISIS" or the "Islamic State") to gain access to certain transport routes in Iraq, that accordingly, the Company's revenues derived from its operations in Iraq were, in at least substantial part, derived from unlawful conduct and thus unsustainable, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Telefonaktiebolaget LM Ericsson (publ) (OTC: ERIXF) have certain options and should contact the Shareholders Foundation.
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