Wednesday, 12 May 2021 09:09 PM MYT
Ericsson’s flag is seen at the company’s headquarters in Stockholm, Sweden March 11, 2015. Reuters pic
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STOCKHOLM, May 12 Swedish telecoms equipment maker Ericsson said today it had agreed to pay Finnish competitor Nokia €80 million (RM400 million) to settle a dispute linked to bribes and accounting fraud.
The settlement is related to a US investigation into Ericsson’s business in five countries China, Vietnam, Indonesia, Kuwait and Djibouti between 2000 and 2016.
In 2019, the US Department of Justice announced that Ericsson would pay more than US$1 billion (RM4.1 billion) in penalties and fines to resolve the investigation related to violations of the Foreign Corrupt Practices Act (FCPA).
Synopsis
Swedish telecom gear maker Ericsson said the settlement with Finnish peer Nokia Oyj would impact operating profit by €80 million and cashflow by €26 million in the second quarter.
ETtech
Ericsson logo is seen at its headquarters in Stockholm, Sweden on June 14, 2018. (Photo: Olof Swahnberg/Reuters)
Stockholm: Telecoms gear maker Ericsson SA has reached an agreement with Finland s Nokia Oyj to pay a damages claim of €80 million ($97 million).
The settlement followed investigations by the US Department of Justice (DoJ) into corruption, including the bribing of government officials, the Swedish firm said on Wednesday. It settled with the DoJ in 2019 and agreed to pay over $1 billion in penalties.
Ericsson to pay euro 80M to Nokia to settle damages claim lightreading.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lightreading.com Daily Mail and Mail on Sunday newspapers.
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The White Collar Defense & Special Investigation Practice of global law firm Greenberg Traurig, LLP continued its strategic expansion with the addition in Houston of Vernon Lewis as a shareholder.
HOUSTON (PRWEB) May 11, 2021 The White Collar Defense & Special Investigation Practice of global law firm Greenberg Traurig, LLP continued its strategic expansion with the addition in Houston of Vernon Lewis as a shareholder. Vernon served in the United States Attorney s Office, Southern District of Texas, for 21 years. As former Deputy Chief of the Fraud Section, he supervised 20 federal fraud prosecutors in complex federal fraud crimes, including matters related to coronavirus fraud.
Seth DuCharme, Former Acting US Attorney for the Eastern District of New York and Principal Associate Deputy Attorney General of the United States, Joins Bracewell
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Bracewell LLP announced today that
Seth D. DuCharme, a high-ranking career lawyer in the United States Department of Justice (DOJ), has joined the firm s New York office as a partner in its government enforcement and investigations practice. DuCharme most recently served as the Acting United States Attorney for the Eastern District of New York and Principal Associate Deputy Attorney General of the United States.
Seth D. DuCharme Seth is a highly credentialed lawyer and will be a terrific addition to the firm, said Bracewell Managing Partner