trending Market Intelligence /marketintelligence/en/news-insights/trending/amytcP-iHM80CYGijf0UHg2 content esgSubNav
In This List

Ericsson agrees to pay $1.06B to settle US corruption probe

Blog

Insight Weekly: Earnings learnings; Duke Energy hits back; PE activity surges

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Video

Root and Branch - July 2021: ELFA Survey, Greenium and KPIs

Blog

Can private clouds ever really compete with the public cloud?


Ericsson agrees to pay $1.06B to settle US corruption probe

Swedish telecommunications company Ericsson has agreed to pay $1.06 billion to settle U.S. federal investigations into the company's compliance with the U.S. Foreign Corrupt Practices Act.

The company said in a Dec. 6 statement that it will pay $520.6 million as part of its settlement with the U.S. Department of Justice and $539.9 million under a settlement with the Securities and Exchange Commission. Additionally, Ericsson has agreed to engage an independent compliance monitor for three years and to reform its ethics and compliance program.

The settlement marks the end of the investigations. The investigations covered activity in six countries — China, Djibouti, Indonesia, Kuwait, Saudi Arabia and Vietnam — over a period that ended in the first quarter of 2017.