Sweden’s Ericsson sued by some shareholders for $170 mln: Report

STOCKHOLM: Thirty-seven Ericsson shareholders are suing the Swedish telecoms company for a combined 1.8 billion Swedish crowns ($170 million), saying its CEO’s disclosure of activities in Iraq depressed the stock, business daily Dagens Industri reported on Friday.

Ericsson and CEO Borje Ekholm have been criticised heavily in the past year for their handling of an internal probe into the company’s operations in Iraq and a scandal involving potential payments to Islamic State.