NEW ORLEANS, April 20, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until June 5, 2018 to file lead plaintiff applications in a securities class action lawsuit against Telefonaktiebolaget LM Ericsson (Nasdaq:ERIC), if they purchased the Company’s American Depositary Shares (“ADSs”) between April 8, 2013 and July 17, 2017, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
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Ericsson investors should visit us at https://www.claimsfiler.com/cases/view-telefonaktiebolaget-lm-ericsson-american-depository-shares-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Ericsson and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 18, 2017, the Company disclosed that it would be terminating, renegotiating or revising 42 long-term service contracts with total annual sales of nearly $1 billion.
On this news, the price of Ericsson ADSs fell $1.21 per share, or 16.62%, to close at $6.07 per share on July 18, 2017
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