Tech & Telecom Law News

Ericsson Agrees to Pay $1 Billion to Settle U.S. Bribery Probe

Dec. 6, 2019, 9:53 PM

A unit of Ericsson AB pleaded guilty to foreign bribery and the parent company agreed to pay more than $1 billion to resolve a long-running U.S. corruption investigation involving potential payoffs in six countries.

As part of the settlement in federal court in New York, which had been expected, Ericsson entered into a deferred-prosecution agreement and will add an independent monitor to ensure its compliance with anti-bribery laws.

To contact the reporter on this story:
Tom Schoenberg in Washington at tschoenberg@bloomberg.net

To contact the editors responsible for this story:
Jeffrey D Grocott at jgrocott2@bloomberg.net

David S. Joachim

© 2019...

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