(COMING SOON) Ericsson announced that its anti-bribery compliance program has been independently rated as effective through the U. S. Department of Justice’s designated compliance monitor. U. S. This certification marks significant progress since resolving historic violations of the Foreign Corrupt Practices Act in 2020. Certification is a condition for the conclusion of the monitoring and promotion agreement, scheduled until June 2, 2024. Ericsson’s Chairman of the Board of Directors highlighted the company’s commitment to moral practices and effective threat control, positioning it competitively in the global landscape. Monitor’s certification is based on a four-year review of Ericsson’s compliance program, reflecting the Board’s commitment to superior control to uphold moral standards.
(PRESS RELEASE) STOCKHOLM, March 28, 2024 — /EuropaWire/ — Ericsson (NASDAQ: ERIC), a Swedish multinational networking and telecommunications company, proudly announces that, effective March 28, 2024, the U. S. Department of Justice will continue to operate the U. S. Department of Justice. The U. S. Department of Homeland Security (DOJ) designated compliance monitor has rated the effectiveness of Ericsson’s anti-bribery and corruption compliance program. This milestone certification is the result of Ericsson’s solution to historical violations of the Foreign Corrupt Practices Act (FCPA) dating back to June 2020.
Jan Carlson, Chairman of Ericsson’s Board of Directors, affirms the importance of this certification and states: “This certification is an independent verification of Ericsson’s significant progress in strengthening its compliance and controls since signing the agreement with the Department of Justice in 2019. Global leadership and innovation, coupled with moral decision-making and effective threat management, put us in a very strong competitive position. This marks a positive step towards the final touch of supervision, which the Company expects at the same time as its expiration. of the term of the plea agreement, after the remaining obligations of this agreement have been fulfilled.
For the past 4 years, the Independent Observer has diligently evaluated Ericsson’s global anti-bribery compliance program and internal controls. This comprehensive review included a meticulous review of the company’s governance structures, operating procedures, and records. The Monitor’s certification underscores the Board of Directors’ unwavering determination and superior control to implement and maintain the company’s compliance program.
Ericsson remains steadfast in its commitment to transparency, integrity and accountability, and expects the oversight to conclude successfully, foreshadowing a new bankruptcy of greater compliance and sustainable growth.
NOTES TO EDITORS:
FOLLOW:
Forward-Looking Statements
This press release includes forward-looking statements, adding statements that reflect the Company’s existing outlook relating to market growth, long-term market conditions, long-term events, monetary condition and expected operating and monetary performance, adding, in particular, the following dangers and uncertainties:
– Potential incremental pricing and liability resulting from our continued compliance with the terms of the promotion agreement with the DOJ and prolonged oversight
• Risk that the U. S. government will be able to The U. S. government should reject certification and expand oversight and possible ongoing U. S. government oversight. U. S. Customs and Border Protection regarding suspension and exclusion.
Potential to become a target of public scrutiny as a result of entering into a promotion agreement with the Department of Justice, which could damage our reputation and materially and adversely harm our business and prospects.
– Risks arising from entering into the plea agreement, adding the possible exclusion from public procurement in the US. In the U. S. and elsewhere, reputational risk, as well as the potential reluctance of the counterparty to continue the business relationship.
– Potential significant additional liability resulting from conduct beyond, adding allegations of conduct beyond that remain unresolved or unknown in jurisdictions, adding Iraq, which is still under ongoing investigation through Ericsson and U. S. government authorities.
• Internal controls and governance risks, adding the option to incur civil liability in relation to internal controls related to invoices made to third parties in relation to conduct out of the ordinary in jurisdictions, adding Iraq, which is still under ongoing investigation through Ericsson and the U. S. government. U. S. Authorities
The threat that ongoing investigations through Ericsson and the U. S. government will be a threat to the U. S. government. U. S. settlements may result in termination through Ericsson or the U. S. government. UU. de that conduct beyond the Company included performing or assuming a duty to issue invoices to a terrorist organization or other invoices, which may also result in damage to the curtains. Additional Liability
– Risks such as our continued compliance with obligations under the national security agreement entered into in connection with Ericsson’s acquisition of Vonage, which could adversely affect Vonage’s business and expose the company to additional liabilities.
– Our objectives, strategies, development of plans, assumptions and expectations in terms of operational or monetary performance.
– Industry trends, long-term characteristics and developments in the markets in which we operate.
– Our long-term liquidity, capital resources, capital expenditures, cargo savings, and profitability.
– Expected call for our new and existing products, as well as plans to launch new products and add studies and progression expenses.
– The ability to execute long-term projects and take advantage of long-term expansion potential.
– Technological and trends, adding the regulatory and normative environment in which we operate, the festival and the disposition of our visitor base.
Other items included in our filings with the U. S. Securities and Exchange CommissionThe U. S. Securities and Exchange Commission (the “SEC”), adding the threat points outlined in our 2023 Annual Report.
The words “believe,” “expect,” “forecast,” “anticipate,” “assume,” “intend,” “likely,” “project,” “could,” “plan,” “estimate,” “forecast,” “will,” “should,” “predict,” “target,” “ambition,” “seek,” “potential,” “target,” “could,” “continue” or, in this case, their negative facets or variations, as well as similar words or expressions, are used to identify the Forward-Looking Statements. Any statements that refer to expectations, projections or other characterizations of long-term occasions or circumstances, adding underlying assumptions, are forward-looking. -Appearance statements.
We caution investors that such statements are subject to dangers and uncertainties, many of which are difficult to expect and beyond our control, and which may cause actual effects to differ materially from those expressed, implied or projected through the forward-looking data. and statements.
Important points that may determine the achievement and extent to which any of our forward-looking statements materialize include, but are not limited to, the items described in the “Risk Factors” segment of the most recent interim reports and in the “Risk Factors. “Segment of the interim report. 2023 Annual Report.
These forward-looking statements also constitute our estimates and assumptions only as of the date they are made. We expressly disclaim any legal responsibility to provide updates to those forward-looking statements, and the estimates and assumptions related thereto, after the date of this publication. publication, to reflect occasions or adjustments in cases or adjustments in expectations or the occurrence of expected occasions, whether as a result of new information, long-term occasions or otherwise, as required by applicable law or securities exchange regulations.
SOURCE: Telefonaktiebolaget LM Ericsson
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