Ex-EADS boss charged in share probe

Noel Forgeard faces charges of insider trading related to superjumbo delays.

    Delays in production of the Airbus superjumbo wiped a quarter off EADS' share value in 2006 [AFP]

    Michel said his client had been cleared on a second count requested by prosecutors, that of misleading financial markets.

     

    The announcement of worsening delays in building the world's largest airliner wiped a quarter off the value of EADS shares in June 2006 and triggered Forgeard's resignation.

     

    Forgeard and other current and former executives have denied knowing about the A380 delays when exercising their right to trade stock in March 2006.

     

    EADS also has denied wrongdoing.

     

    France's financial market regulator, the AMF, said in April it had found evidence of possible insider trading by EADS executives who also include Thomas Enders, a former co-chief executive and current chief executive of Airbus.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Visualising every Saudi coalition air raid on Yemen

    Visualising every Saudi coalition air raid on Yemen

    Since March 2015, Saudi Arabia and a coalition of Arab states have launched more than 19,278 air raids across Yemen.

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Many Pentecostal churches in the Niger Delta offer to deliver people from witchcraft and possession - albeit for a fee.

    Why did Bush go to war in Iraq?

    Why did Bush go to war in Iraq?

    No, it wasn't because of WMDs, democracy or Iraqi oil. The real reason is much more sinister than that.