Read What Activist Cevian Demanded From Ericsson Post ISIS Fiasco - Telefonaktiebolaget L M (NASDAQ:ERIC)

Europe's leading activist investor Cevian AB pressed Telefonaktiebolaget LM Ericsson ERIC to amend its articles to give its Class A shareholders the power to convert their shares into Class B shares, Bloomberg reports.
Class A shareholders carry ten times Class B's voting power per share, notes Bloomberg. Cevian holds ~5% of Ericsson's Class B shares.
Cevian also demanded the removal of the dual deputy chairmanship structure for class A shareholders and asked sought public disclosure of corruption investigations. Cevian also sought for share buyback mandate.
Ericsson's shares have lost about a third of their value in February after an investigation detailed its possible involvement in making payments to ISIS to facilitate sales in Iraq.
Later the U.S. Department of Justice disclosed Ericsson's failure to make adequate disclosures about operations in Iraq before entering a deferred prosecution agreement in 2019.
Price Action: ERIC shares traded higher by 1.36% at $8.18 in the premarket on the last check Friday.