The Disciplinary Committee of Nasdaq Stockholm has in its trial found that
Telefonaktiebolaget LM Ericsson ("Ericsson" or "the Company") has not breached
Nasdaq Stockholm's Rulebook for Issuers ("The Rulebook") and has therefore not
imposed a sanction on the Company.
The Disciplinary Committee has in the case tried whether Ericsson - by not
meeting Nasdaq Stockholm's ("the Exchange") request for a correction of the
Company's reporting of pension obligations in its financial report - has acted
in breach of generally accepted behavior in the securities market.
According to the Disciplinary Committee, generally accepted behavior in the
securities market normally means that issuers follow the Exchange's
instructions. The Disciplinary Committee does however note that the Company
has not been able to follow the Exchange's instructions without risking an
unclean audit report as well critique from the SEC. In addition, the Company
did not have the opportunity to have the Exchange's decision in the accounting
issue reviewed.
Given the above background and the fact that the Company has filed additional
information in its financial reporting after the Exchange's request as well as
the fact that the Exchange has found the case to not be of serious nature, the
Disciplinary Committee finds that the failed correction is not enough to
conclude that the Company has acted in breach of generally accepted behavior in
the securities market.
A detailed description of the matter and the Disciplinary Committee's decision
is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2019
Please see the attached document.
For further information about this exchange notice please contact Issuer
Surveillance, telephone +46 8 405 60 00, or iss@nasdaq.com.
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=739347© 2019 GlobeNewswire
