SEC Launches Probe On Ericsson Over Its Iraq Connection

  • The U.S. SEC intimated Ericsson 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.

Posted In: BriefsGovernmentNewsRegulationsLegalSECTech

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.