Dreier LLP Files a Class Action Lawsuit on Behalf of Investors of the Publicly Traded Securities of European Aeronautic Defence & Space Company EADS N.V

NEW YORK, June 13 /PRNewswire/ -- Dreier LLP (http://www.dreierllp.com/) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of the publicly traded securities of European Aeronautic Defence and Space Company EADS N.V. ("EADS" or the "Company") during the period from May 9, 2005 through March 11, 2008, inclusive (the "Class Period"). The Complaint alleges that certain of the Company's officers and Lagardere and Daimler AG (the Company's core shareholders) (collectively, the "Defendants") violated the Securities Exchange Act of 1934.

If you purchased EADS publicly traded securities during the Class Period, you may be a member of the proposed Class. You must move the Court on or before August 11, 2008 if you wish to serve as a lead plaintiff. Lead plaintiffs must meet certain legal requirements. If you purchased EADS publicly traded securities and want to discuss your legal rights, you may contact Brian C. Kerr (classlaw@dreierllp.com) of Dreier LLP at 800-952-8897. Class members may retain counsel of their choice and move the Court to serve as a lead plaintiff, or may choose to do nothing and remain absent class members.

EADS is a European aerospace corporation that develops and markets civil and military aircraft, as well as missiles, space rockets, satellites and related systems. Airbus, a subsidiary of EADS, develops, produces and supports airliners seating from 100 to 525 passengers, including the A380 double-decker four-engined jetliner ("A380").

The Complaint alleges that, during the Class Period, Defendants misled investors by making a series of materially false and misleading statements concerning EADS's true financial condition and its ability to meet delivery targets for the Airbus A380. According to the Complaint, Defendants touted the success of the A380 and the positive impact it would have on EADS's financial results. The Complaint alleges, among other things, that Defendants credited the production of the new A380 for its positive financial performance, and repeatedly assured investors throughout the Class Period that the A380 production was "as scheduled and on target."

According to the complaint, these statements were materially false and misleading because they failed to disclose and misrepresented the following adverse facts, among others: (1) that Airbus was plagued with serious production problems and development costs that would delay the roll-out of the A380 plane; (2) that the A380 delays would have a negative impact on the Company's financial condition; (3) that EADS's internal revenue forecasts and projections were much lower than market expectations; (4) that Defendants were engaging in rampant insider trading based on their knowledge of the problems surrounding the A380; (5) that the Company lacked adequate internal and financial controls and procedures, which allowed Defendants to trade EADS shares while in possession of material non-public information; and (6) that the Company's financial statements were materially false and misleading.

On June 13, 2006, the Company issued a press release, after the market closed, announcing that its Airbus subsidiary was having production problems with the A380, which would cause a significant delay in delivery to its customers. As a result, on June 14, 2006, EADS's stock dropped 26% to A18.73 per share.

On March 11, 2008, the truth concerning Defendants' fraud was further revealed, when the Company issued a press release announcing a loss of A446 million ($696 million) for 2007, attributable to Airbus's production delays with the roll-out of the A380. As a direct and proximate result of this news, the price of EADS stock again decreased significantly, on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of all U.S. and non-U.S. purchasers of the publicly traded securities of EADS during the Class Period. Dreier LLP's Class Action Litigation Group has vast experience representing domestic and foreign institutional and individual investors in securities and other class actions throughout the country. The partners who head Dreier LLP's Class Action Litigation Group have successfully prosecuted securities fraud class actions in a wide variety of industries and have played a significant role in cases that have resulted in some of the largest securities class action settlements. Prior results do not guarantee a similar outcome.

Background on Dreier LLP

Dreier LLP was founded in 1996 by Marc Dreier as a more responsive and innovative alternative to traditional "large-firm" lawyering. Dreier LLP represents a wide range of institutional, entrepreneurial and individual clients in diverse sectors of financial, industrial and service-oriented markets. The firm's principal practices are commercial litigation, class action litigation, real estate, bankruptcy and corporate reorganization, employment, corporate and securities, entertainment, intellectual property, matrimonial and tax. Dreier LLP's Los Angeles affiliate, Dreier Stein Kahan Browne Woods George LLP, has its principal practice in entertainment and commercial litigation and corporate transactions. The firm's New York affiliate Schlesinger Gannon & Lazetera LLP has an extensive practice in the area of trusts and estates law. Pitta & Dreier LLP is an affiliate which specializes in labor law, and Pitta, Bishop, Del Giorno & Dreier LLP specializes in government relations. In the 12 years since its founding, Dreier LLP, with its affiliate members, has grown to more than 200 attorneys, with its principal office at 499 Park Avenue in Manhattan, and additional offices in Los Angeles and Santa Monica, California; Albany, New York; and Stamford, Connecticut.