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FRESH ALLEGATIONS IN EADS INSIDER TRADING INVESTIGATION: PRESS
Received Saturday, 27 October 2007 15:55:00 GMT
PARIS, Oct 27, 2007 (AFP) - Airbus manufacturer EADS denied reports in French daily Le Monde Saturday that it had published misleading information now being investigated by French financial markets regulator AMF.
The European Aeronautic Defence and Space (EADS) group "has nothing to reproach itself in its financial communication and has always informed the markets on time," a company spokesman told AFP.
Le Monde reported that AMF was looking into whether EADS had published false market information between the end of 2005 and early 2006: just before share prices plunged at news of major delays in Airbus' flagship A380 superjumbo jet.
The report adds fresh allegations to an insider trading scandal in which the Lagardere group has been accused of having cut its stake in EADS in 2006, just before the announced Airbus delays.
The markets regulator is now planning to question anew some company officials, including former co-president Noel Forgeard, Le Monde reported citing an official "close to the dossier."
Contacted by AFP, AMF refused to comment on the report.
But AMF's president has said previously that companies must communicate as early as possible information susceptible to have a significant influence on the share prices.
"There are two ways to mislead a market, either in not saying things that one should say or in allowing things to be said that are overly optimistic," the offical told Le Monde.
The report follows changes announced at EADS earlier this week, as former co-chairman Arnaud Lagardere moved to take a seat on the Airbus board, while Germany's Rudiger Grube was elected as new chairman.
Despite the probe, Lagardere said Monday he planned to stay on the company's board because he represented "the interests of Lagardere," which is EADS' largest single shareholder.
FRESH ALLEGATIONS IN EADS INSIDER TRADING INVESTIGATION: PRESS
Received Saturday, 27 October 2007 15:55:00 GMT
PARIS, Oct 27, 2007 (AFP) - Airbus manufacturer EADS denied reports in French daily Le Monde Saturday that it had published misleading information now being investigated by French financial markets regulator AMF.
The European Aeronautic Defence and Space (EADS) group "has nothing to reproach itself in its financial communication and has always informed the markets on time," a company spokesman told AFP.
Le Monde reported that AMF was looking into whether EADS had published false market information between the end of 2005 and early 2006: just before share prices plunged at news of major delays in Airbus' flagship A380 superjumbo jet.
The report adds fresh allegations to an insider trading scandal in which the Lagardere group has been accused of having cut its stake in EADS in 2006, just before the announced Airbus delays.
The markets regulator is now planning to question anew some company officials, including former co-president Noel Forgeard, Le Monde reported citing an official "close to the dossier."
Contacted by AFP, AMF refused to comment on the report.
But AMF's president has said previously that companies must communicate as early as possible information susceptible to have a significant influence on the share prices.
"There are two ways to mislead a market, either in not saying things that one should say or in allowing things to be said that are overly optimistic," the offical told Le Monde.
The report follows changes announced at EADS earlier this week, as former co-chairman Arnaud Lagardere moved to take a seat on the Airbus board, while Germany's Rudiger Grube was elected as new chairman.
Despite the probe, Lagardere said Monday he planned to stay on the company's board because he represented "the interests of Lagardere," which is EADS' largest single shareholder.