STOCKHOLM, May 25, 2023
/PRNewswire/ -- Yesterday, the U.S. District Court for the
Eastern District of New York
dismissed with prejudice the securities litigation against Ericsson
(NASDAQ: ERIC) brought by certain shareholders.
In its ruling, the court rejected in full the plaintiff's claims
that Ericsson misled investors and concluded that Ericsson did not
violate any disclosure obligation to investors.
The motion to dismiss decision is subject to appeal from the
plaintiff. Ericsson will continue to vigorously defend this matter
if appealed.
Ericsson has also announced this week that Nasdaq Stockholm has
formally closed its review into Ericsson's public disclosure
concerning the 2019 Iraq report (read more). Nasdaq, in closing the
case, stated that it: "cannot come to the conclusion that the
content of the report was such that a reasonable investor would
have used such information as part of his/her investment
decision".
NOTES TO EDITORS:
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ABOUT ERICSSON:
Ericsson enables communications service providers and enterprises
to capture the full value of connectivity. The company's portfolio
spans the following business areas: Networks, Cloud Software and
Services, Enterprise Wireless Solutions, Global Communications
Platform, and Technologies and New Businesses. It is designed to
help our customers go digital, increase efficiency and find new
revenue streams. Ericsson's innovation investments have delivered
the benefits of mobility and mobile broadband to billions of people
globally. Ericsson stock is listed on Nasdaq Stockholm and on
Nasdaq New York. www.ericsson.com
The following files are available for download:
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https://mb.cision.com/Main/15448/3774547/2082688.pdf
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U.S. District Court
dismisses securities claim against Ericsson
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SOURCE Ericsson