Swedish telecommunications company Ericsson agreed with U.S. authorities on a one-year extension of its independent compliance monitorship after a second breach of its obligations under a deferred prosecution agreement (DPA) earlier this year.
The term of the monitor, required as part of settlements with the Department of Justice (DOJ) and Securities and Exchange Commission in December 2019 for violations of the Foreign Corrupt Practices Act (FCPA), will now run through June 2024, the company announced Wednesday. The monitorship was originally slated to last three years.
