Nobody's talking. When ICIJ asked about Ericsson, the SEC and DoJ declined to comment. Ericsson CEO Borje Ekholm is reported as saying that the previous settlement agreement limits Ericsson's ability to comment. The Billion Dollar Question Since Ericsson hasn't disputed their existence or content, I'm assuming the leaked documents are genuine. I also assume that the conclusions are accepted by the company, since it commissioned these investigations. If the Iraq activity was covered by the deferred-prosecution agreement, I would expect the SEC to say so and end damaging market speculation. SEC hasn't said that Ericsson has disclosed matters covered by the agreement and it hasn't said that Ericsson disclosed matters that were not material; it remains silent. If the Iraq activity is not covered, it would be reasonable to expect further penalties. The next issue is whether the previous billion dollar penalty took advantage of any credits under the DoJ fine sentencing guidelines.