Ericcson Faces Investor Suit After Drop In Stock

Law360, New York (December 3, 2007, 12:00 AM EST) -- A lawsuit filed against Swedish telecommunications systems company Ericsson LM Telephone Co. alleges it lied to investors about the demand for its mobile network equipment, a move that lessened the value of the stock.

The proposed class action lawsuit, which was filed Wednesday in the U.S. District Court for the Southern District of New York, alleges that stock in the company dropped by about $20 a share once the company disclosed the reality of the market.

The proposed class action, which was brought by investor State-Boston...
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