The Wall Street Journal: Ericsson vows ‘zealous’ defense against U.S. suits by terror victims over alleged bribes paid to al Qaeda, ISIS

4 days ago 16

Ericsson is being sued by hundreds of Americans who say the company’s alleged payment of bribes to al Qaeda and Islamic State — protection money meant to let it operate in Iraq — also helped fund acts of terror.

The Stockholm-based telecommunications company ERIC, -0.39% ERIC.B, +0.03%, which was sued Friday in federal court in Washington, D.C., faces claims from more than 500 U.S. service members and civilians who were victims of terrorist attacks and hostage takings from 2005 to 2021, along with the families of those killed in attacks.

From the archives (April 2022): Ericsson faces possible fine over Iraq corruption scandal

Also (June 2022): Ericsson now also being investigated by the SEC for its conduct in Iraq

They brought their claims under the Antiterrorism Act of 1990, which allows victims of terrorism to seek damages in U.S. courts, including against companies and individuals that aid and abet terrorism.

Ericsson said it would “zealously defend against” the suit.

An expanded version of this report appears at WSJ.com.

Also (July 2022): Ericsson shares skid after company misses profit expectations

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