Ericsson Probed by US SEC Over Corruption Scandal in Iraq
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Ericsson’s governance woes continued to pile up after the US Securities and Exchange Commission started a probe into the company’s handling of a corruption scandal in Iraq.
The SEC “has opened an investigation concerning the matters described in the company’s 2019 Iraq investigation report,” Ericsson said in a statement after market close on Thursday. The company added that it’s “fully cooperating” and that “it is too early to determine or predict the outcome.”