Ericsson To Pay Nokia €80M To Nix FCPA Probe-Related Claim

Law360 (May 12, 2021, 11:17 PM EDT) -- Ericsson has agreed to pay Nokia €80 million ($97 million) to end a damages claim related to the 2019 resolution of allegations by U.S. agencies that the Stockholm-based telecom giant violated the U.S. Foreign Corrupt Practices Act, it was announced Wednesday.

The announcement, which came as a financial disclosure to Ericsson investors, was light on details about the claim asserted by Nokia. In December 2019, Ericsson agreed to pay criminal and civil penalties totaling more than $1 billion to U.S. authorities over bribery and slush fund schemes in Asia, Africa and the Middle East dating back to 2000.

"The settlement relates...

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