On 19 November of this year Ericsson announced that it expects its fourth quarter sales to be at the lower end of its forecast of between SEK 53 billion and SEK 60 billion, the company said during an investor conference in New York. Ericsson said the networks market in the United States and Europe had tightened and also cited political unrest in some emerging markets as a factor for the network market. On 21 November, three more US law firms filed class-action suits against Ericsson, intensifying the pressure on the Swedish company that now faces four suits in the US, all alleging the company and its management deliberately misled the market by not announcing last month's profit warning more quickly, according to the Financial Times.
