By Dominic Chopping
STOCKHOLM--Ericsson AB said Friday that it has received correspondence from the U.S. Department of Justice stating that the company has breached its obligations under a Deferred Prosecution Agreement by failing to provide certain documents and factual information in relation to a previous corruption settlement.
Ericsson said it will have the opportunity to respond to the DOJ and will continue to cooperate, but at this stage it is premature to predict the outcome of these developments.
In 2019, the telecommunications-equipment company entered a deal with the DOJ that included payment of a $1.06 billion fine to settle a corruption investigation amid charges of bribery and accounting violations in China, Djibouti, Indonesia, Kuwait, Saudi Arabia and Vietnam.
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(END) Dow Jones Newswires