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 & Lead Plaintiff Deadline – June 5, 2018 - EconoTimes)
NEW YORK, April 20, 2018 -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Telefonaktiebolaget LM Ericsson (“Ericsson” or the “Company”) (NASDAQ:ERIC) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Ericsson securities between April 8, 2013 and July 17, 2017, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/eric.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Ericsson prematurely recognized revenues and improperly delayed the recognition of costs related to services contracts; and (2) consequently, Ericsson materially overstated its revenues, margins, and profits during the Class Period.
On July 18, 2017, Ericsson disclosed that it would be terminating, renegotiating or revising 42 long-term service contracts with total annual sales of almost $1 billion. Following this news, Ericsson’s American Depositary Share price fell $1.21, or 16.62%, to close at $6.07 on July 18, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/eric or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ericsson you have until June 5, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
