Ericsson LM Telephone Co. – SEC Investigation Update

Disclosed SEC Investigation(s) Confirmed as On-going

Inadequate Disclosures Make It Impossible to Assess this Material and On-going Risk

Ericsson LM Telephone Co. is not presently on our Watch List of companies with undisclosed SEC probes.  It does, however, have at least one disclosed – and now protracted – SEC probe.  It’s an FCPA exposure moving rapidly toward settlement. We found a small item tucked in the disclosures worthy of further investigation. Disclosure excerpts cited today’s report.

The timing of SEC responses to us, along with company disclosures made since then, tell us Ericsson management has known about an SEC probe since at least 2013, kept it from you for at least two years, and now wants you to believe it cannot answer questions or provide further detail.