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EADS shareholder in new insider trading probe

EADS shareholder in new insider trading probe

A leading shareholder in Airbus parent company EADS NV says it has been placed under preliminary investigation by French judges investigating a suspected multimillion-dollar insider trading scandal dating back to 2005.
Lagardere SCA, a French media and defense conglomerate with a 7.5 percent stake in EADS, said in a statement Friday that the magistrates informed the company about the probe.
The preliminary charges filed Thursday give the magistrates more time to investigate and decide whether to send the case to trial.
A separate inquiry into the case by France's stock market regulator two years ago cleared Lagardere and other shareholders, citing a lack of evidence to show they used knowledge of delays to the A380 superjumbo program when selling their shares.


Updated : 2021-04-14 14:16 GMT+08:00