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© Ericsson Electronics Production | October 22, 2021

DOJ accuses Ericsson of withholding documents

Ericsson discloses that it has entered into a Deferred Prosecution Agreement (DPA) with the United States Department of Justice (DOJ).

Ericsson reached an agreement with the US Department of Justice (DOJ) back in December 2019, a so-called Deferred Prosecution Agreement, to resolve criminal charges relating to violation of bribery provision of the FCPA in Djibouti. In connection with the matter in Djibouti, Ericsson's Egyptian subsidiary pled guilty to bribery today. As part of the resolution Ericsson will pay a fine of USD 520,65 million. Ericsson says it has received correspondence from the DOJ stating that it has determined that Ericsson breached its obligations under the DPA by failing to provide certain documents and factual information, and that the company will have the opportunity to respond in writing to explain the nature and circumstances of such breach, as well as the actions Ericsson has taken to address and remediate the situation. At this stage Ericsson says it is premature to predict the outcome of these developments. DOJ has sole discretion under the DPA to determine whether a breach occurred. The company says in an update that it intends to respond to DOJ and to continue cooperating with DOJ consistent with the terms of the DPA, including requirements regarding production of documents.
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November 29 2021 10:48 pm V19.2.0-2