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2023-01-12

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Ericsson Stock Surges After $220 Million Provision For Potential DPA Breach Resolution With DOJ

The U.S.-listed shares of Ericsson (ERIC-B.SK) surged 6.3% toward a one-month high in premarket trad

Ericsson Stock Surges After $220 Million Provision For Potential DPA Breach Resolution With DOJ

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The company agreed in December to extend its independent compliance monitorship through June 2024. </p><p>The company had entered into the DPA to resolve violations of the Foreign Corrupt Practices Act prior to 2017. The stock has slipped 0.3% over the past three months through Wednesday, while the S&amp;P 500  has rallied 11.0%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4020":"通信设备","BK4515":"5G概念","BK4554":"元宇宙及AR概念","ERIC":"爱立信"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2302089567","content_text":"The U.S.-listed shares of Ericsson (ERIC-B.SK) surged 6.3% toward a one-month high in premarket trading Thursday, after the Sweden-based communications services company said it will record a SEK2.3 billion ($220 million) charge for a potential resolution with the U.S. Department of Justice regarding alleged breaches under its 2019 Deferred Prosecution Agreement $(DPA.UK)$. The company said it believes the charge, which will be booked in fourth-quarter results, is a \"sufficiently reliable estimate\" of the penalty associated with any breach resolution. 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