Ericsson Told It Has Breached $1 Billion DOJ Bribery Deal (2)

Ericsson was accused by the U.S. Department of Justice of breaching a $1 billion agreement it made with prosecutors in 2019 to end a long a running corruption probe.

U.S. prosecutors said in a letter to the company that Ericsson had failed to provide certain documents and factual information to the DOJ, the company said in a statement late on Thursday. Ericsson will now be given the opportunity to “explain in writing the nature and circumstances of such breach,” the company said.

The shares fell as much as 3.8% in the Swedish capital on Friday, underperforming the 1% gain in ...