French watchdog finds insider trading at EADS

0 Comments | AFP, April, 2008

PARIS (AFP) — French regulators said Tuesday they had found evidence of insider trading at European aerospace giant EADS before it revealed delays to its A380 superjumbo airliner that caused the stock price to plunge.

The Financial Markets Authority (AMF) said it would send its findings "immediately" to the Paris prosecution service.

The AMF said there was cause for complaint against several people at the European Aeronautic Defence and Space Company (EADS) over share deals at the end of 2005 and in early 2006.

That was shortly before the group was overtaken by a crisis at its main subsidiary, Airbus, that caused boardroom changes and a vast restructuring programme to slash costs and streamline production of airliners.

The AMF gave no names following...