Defendant Name: Telefonaktiebolaget LM Ericsson

Defendant Type: Public Company

Document Reference: 2019-254

Document Details

Legal Case Name SEC v.Telefonaktiebolaget LM Ericsson
Document Name SEC Charges Multinational Telecommunications Company With FCPA Violations
Document Date 06-Dec-2019
Document Format Civil Proceeding
Case Number 19-cv-11214
Allegation Type Foreign Corrupt Practices Act
Document Summary The SEC stated: "Swedenbased Telefonaktiebolaget LM Ericsson was charged with engaging in a large-scale bribery scheme involving the use of sham consultants to secretly funnel money to government officials in multiple countries. The bribes netted Ericsson hundreds of millions in profits. To resolve these alleged violations of the Foreign Corrupt Practice Act (FCPA) and charges from a parallel criminal investigation, Ericsson has agreed to pay more than $1 billion to the SEC and the U.S. Department of Justice and to install an independent compliance monitor."

Disgorgement & Penalty Information

Resolutions
Compliance Related Independent Consultant
Monetary Penalties:

Disgorgement

(Penalty was noted in document, but no amount was listed)

Pre-Judgment Interest

(Penalty was noted in document, but no amount was listed)

Total Penalty

Individual:     $539,000,000.00 Shared:    

Related Documents:

comp-pr2019-254 06-Dec-2019 Complaint
Complaint
The SEC stated: "This matter arises from violations of the anti-bribery, recordkeeping, and internal accounting controls provisions of the Foreign Corrupt Practices Act ("FCPA") . . . by defendant Telefonaktiebolaget LM Ericsson ("Ericsson"), a multinational networking and telecommunications equipment and services company headquartered in Sweden."
court_doc12_19-cv-11214 20-Dec-2019 Court Docket Document
Final Judgment
The Court issued final judgment as to defendant Telefonaktiebolaget LM Ericsson. The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant Telefonaktiebolaget LM Ericsson (“Defendant” or “Ericsson”) having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to the entry of this Final Judgment; waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."