Ericsson Forecasts Wrong, Not Fraudulent: 2nd Circ.

Law360, New York (October 9, 2009, 3:46 PM EDT) -- A federal appeals court has affirmed a district court decision in favor of Ericsson LM Telephone Co., ruling that inaccurate statements made by executives about the telecommunications manufacturer's financial future were not a willful attempt to defraud investors as the plaintiffs in the consolidated class action had argued.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit found that the plaintiffs' contention that remarks made by Ericsson’s CEO Carl-Henric Svanberg during an analysts and investors conference in 2007 were intentionally misleading because...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.