Energy News / Shareholders Foundation, Inc.

NASDAQ:ERIC Shareholder Notice: Lawsuit Alleges Misleading Statements by Telefonaktiebolaget LM Ericsson

Via: ReleaseWire

Updated 11:00 AM CDT, Thu, April 19,2018

A lawsuit was filed on behalf of investors in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 04/19/2018 -- An investor, who purchased shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Telefonaktiebolaget LM Ericsson.

Investors in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) 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 at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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.

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.

Those who purchased shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqeric-shareholder-notice-lawsuit-alleges-misleading-statements-by-telefonaktiebolaget-lm-ericsson-965406.htm

Media Relations Contact
Michael Daniels
858-779-1554
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