Swedish telecom giant Ericsson announced Wednesday it has reached a settlement of €80 million (U.S. $97 million) with Nokia relating to events that were the subject of a 2019 Foreign Corrupt Practices Act (FCPA) resolution with U.S. authorities.

The settlement amount “reflects uncertainty, risk, expense, and potential distraction from business focus associated with a potentially lengthy and complex litigation,” Ericsson stated.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...