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ERIC Investors Have Opportunity to Lead Ericsson Securities Fraud Lawsuit

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LOS ANGELES, April 29, 2022 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Telefonaktiebolaget LM Ericsson (“Ericsson” or the “Company”) (NASDAQ: ERIC).

Class Period: April 27, 2017February 25, 2022
Lead Plaintiff Deadline: May 2, 2022

If you wish to serve as lead plaintiff of the Ericsson lawsuit, you can submit your contact information at www.glancylaw.com/cases/ericsson/.  You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Ericsson overstated the extent to which it had reformed its business practices to eliminate the use of bribes to secure business in foreign countries; (2) Ericsson had paid bribes to the terrorist group the Islamic State in Iraq and Syria to gain access to certain transport routes in Iraq; (3) accordingly, the Company's revenues derived from its operations in Iraq were, in at least substantial part, derived from unlawful conduct and thus unsustainable; and (4) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/eric-investors-have-opportunity-to-lead-ericsson-securities-fraud-lawsuit-301536132.html

SOURCE Glancy Prongay & Murray LLP

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