MADRID, 10 Jun. (EUROPA PRESS) –
The United States Securities Market Commission (SEC) has notified Ericsson of the opening of an investigation in relation to the conduct of the Swedish telecommunications company in Iraq, as confirmed by the multinational.
“The SEC has notified the company that it has opened an investigation into the matters outlined in the company’s 2019 Iraq report,” Ericsson said in a statement, underscoring its commitment to law enforcement.
Last February, the Scandinavian multinational acknowledged having made payments to intermediaries and used alternative transport routes at a time when terrorist organizations, including ISIS, controlled some transport routes in Iraq, although it clarified that its inquiries could not determine the ultimate recipient of payments.
In this regard, a month later, the United States Department of Justice decided to carry out an investigation, adding that Ericsson had broken the investigation agreement agreed with them by not making certain communications after the investigation.
Ericsson shares have accumulated a fall of close to 20% so far this year. In the session this Friday, the shares of the multinational yielded around 2% and traded below 80 crowns.
