Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) Investor Securities Class Action Lawsuit 04/06/2018

If you purchased shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) between April 8, 2013 and July 17, 2017, , you have certain options and for certain investors are short and strict deadlines running. Deadline: June 5, 2018. NASDAQ: ERIC investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Ericsson
Case Name: 
Ericsson Shareholder Class Action Lawsuit 04/06/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: ERIC
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/06/2018
Class Period Begin: 
04/08/2013
Class Period End: 
07/17/2017
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
06/05/2018
Summary: 

An investor in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC in connection with certain allegedly false and misleading statements made between April 8, 2013 and July 17, 2017.

On July 18, 2017,Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC reported its second quarter results for 2017. Among other things, Telefonaktiebolaget LM Ericsson disclosed that it identified 42 contracts, with sales of SEK 7 b. in 2016, which we will either exit, renegotiate or transform. Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) declined from $7.42 per share in July 2017 to as low as $5.52 per share in September 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) common shares between April 8, 2013 and July 17, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between April 8, 2013 and July 17, 2017, Ericsson claimed that its financial statements were prepared in accordance with International Financial Reporting Standards (“IFRS), while in reality the Defendants violated International Financial Reporting Standards by allegedly materially overstating service revenues and improperly delaying the recognition of at least $1 billion in expenses on its long-term service projects.