Ericsson beats U.S. shareholder lawsuit over bribery disclosures

Swedish telecoms company Ericsson beat a lawsuit by U.S. shareholders on Wednesday, when a federal judge ruled it did not mislead investors about its compliance with U.S. anti-bribery laws.

The lawsuit filed by a Boston-based pension fund claimed that Ericsson had overstated the extent to which it had eliminated the use of bribes after it settled corruption allegations made by the U.S. Department of Justice (DOJ).

U.S. District Judge William Kuntz in Brooklyn, New York, wrote that Ericsson had issued “ubiquitous warnings” to investors raising “the possibility of future compliance failures” after the agreement.