Ericsson confirms US investigation into its Iraq history

It comes as no great surprise to learn US authorities have opened a formal investigation into its historical activities in Iraq, but its shares still took another hit on the news.
It was fair to assume the consequences of Ericsson admitting corrupt behaviour by its representatives in Iraq was already priced into its shares but this latest development seems to have spooked investors further. The company issued a short announcement, confirming the US Securities and Exchange Commission has started