April 21, 2022
According to the Swedish news agency TT, the Swedish prosecutors have commenced a preliminary investigation into the alleged bribes paid by Ericsson in Iraq.
The company continues to address leadership issues from shareholders following the revelation that it could face scrutiny from the US Department of Justice.
This is because the company did not properly publish the 2019 investigation, which suggests the company may have paid militant organizations in Iraq.
The issue led Ericsson’s major shareholders to announce plans to vote against a motion to clear some board members of their responsibilities.
Under the Swedish Companies Act, a company or shareholder can sue a board member or the CEO if a group representing at least 10% of the shares in the company voted against ratifying acts of the CEO in the past year.
The sources for this piece include an article in Reuters.
