France: Massive Insider Trading At EADS | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 04.25.16

Airborne 04.26.16

AEA2016 LIVE!!! 0830-1230ET

AEA2016 LIVE!!! 1400-1700ET

AEA2016 LIVE!!! 1100-1400ET

Airborne Hi-Def On YouTube

Airborne 04.25.16

Airborne 04.26.16

AEA2016 LIVE!!! 0830-1230ET

AEA2016 LIVE!!! 1400-1700ET

AEA2016 LIVE!!! 1100-1400ET

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

Wed, Oct 03, 2007

France: Massive Insider Trading At EADS

Chairman Gallois Calls Findings "Preliminary"

In what analysts see as a tremendous blow to aerospace giant EADS, the French government says investigators have determined "massive insider trading" was conducted by 21 top managers in both 2005 and 2006.

The Associated Press reports investigators point to the way EADS executives sold some of their shares in the Airbus parent as a strong indicator of insider trading.

Expecting company shares would fall, the French government accuses them of selling "forward" -- scheduling 2007 transactions at higher 2006 prices. Investigators say that's a good indication those managers knew of trouble on the horizon and were trying to protect their own financial positions.

Investigators at the French Financial Markets Authority are forwarding the allegations to prosecutors in Paris, saying in a statement that the facts in this case are "likely to be qualified as criminal," according to the AP.

EADS CEO Louis Gallois says the findings are "preliminary" in nature.

Shares in French EADS partner Lagardere appear to have taken the largest hit from the news. Fears of a looming insider trading scandal caused stocks to dip six percent in trading Wednesday, according to Thompson Financial.

Rumors of insider trading at EADS first surfaced in May 2006, when several top-level executives sold off their shares at just the right time... right before news of a second delay to the Airbus A380 program became public.

As ANN reported, the ensuing scandal led to the resignations of former EADS co-CEO Noel Forgeard (shown at right) and Airbus chief Gustav Humbert... and prompted investigations from both French and German sides of the aerospace consortium.

FMI: www.eads.com

Advertisement

More News

ANN Announces Massive AEA-Live and Aero-TV Schedules for AEA16!

After 2 Decades of Innovative NewMedia Coverage, ANN Continues to Raise the Bar The crew at the Aero-News Network is eagerly anticipating yet another chance to showcase one of the >[...]

True Blue Power and Mid-Continent Instruments and Avionics Power AEA2016!

True Blue Power Announces Series of High-Powered USB Charging Ports, Powers Current and Next-Generation Electronic Devices True Blue Power today announced the TA202 Series High Pow>[...]

Airborne 04.26.16: Drone v Airplane-NOT!, eFusion Electric Plane, ANN@AEA-LIVE!!

Also: MU-2 AOA, AMA Responds To Senate FAA Reauthorization, ANN@AEA Live 04/27-0830ET, ANN@AEA Live 04/28-1400ET, ANN@AEA Live 04/29-1100ET A report of a drone possibly colliding w>[...]

L-3 Aviation Products Presents AEA2016 Special Event Coverage!!!

Innovative Avionics Powerhouse Showcases Latest Developments It's been a great year for L-3 Aviation Products. In less than six months,m they've finetuned some ground-breaking prod>[...]

Aspen Avionics, True Innovators, Present AEA2016 Special Event Coverage!

AEA2016 Sponsor: Always-Innovative Aspen Avionics Based in Albuquerque, New Mexico, Aspen Avionics specializes in bringing the most advanced display and sensor technology from the >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC