NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 5, 2018 to file lead plaintiff applications in a securities class action lawsuit against Telefonaktiebolaget LM Ericsson (NasdaqGS: 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.
What You May Do
If you purchased ADSs of Ericsson and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-eric/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 5, 2018.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.