Don't miss

Replay


LATEST SHOWS

THE DEBATE

Who won? The impact of first Clinton-Trump debate (part 1)

Read more

THE DEBATE

Who won? The impact of first Clinton-Trump debate (part 2)

Read more

EYE ON AFRICA

Abubakar Shekau says he is still leading Boko Haram

Read more

FOCUS

Video: 'Buy Black' movement gains momentum in US

Read more

ENCORE!

Reality Hunger: David Shields does away with novelistic convention

Read more

THE INTERVIEW

Women terrorists are 'probably the wave of the future', says ex-CIA agent

Read more

ACCESS ASIA

India: The dangers of working in leather factories

Read more

IN THE PAPERS

'The first debate featured an unprepared man repeatedly shouting over a highly prepared woman'

Read more

IN THE PAPERS

'Who won the debate?'

Read more

Former EADS chief denies insider trading charges

Latest update : 2008-04-02

In an interview with the French daily 'Le Parisien', Noël Forgeard, former co-president of French aeronautics giant EADS, has rejected allegations of insider trading. Analysis by D. Herbert.

PARIS, April 1 (Reuters) - Noël Forgeard, former co-president of French aeronautics giant EADS, has refuted suspicions that he was engaged in insider trading. 

 

A report surfaced Tuesday claiming that French regulator
AMF would single out 17 current or former executives for further
investigation on accusations of insider trading.
 

Les Echos reported the AMF had reaffirmed its suspicions
against 17 of 21 people targeted in an earlier draft report on
the fallout from production delays at Airbus in 2006 and would
also pursue the company for issuing "misleading information".
 

The draft report was leaked last year and found evidence of
"massive" insider trading in EADS by people involved in the
company in the months leading up to an A380 production crisis in
mid-2006.
 

EADS and individuals involved have all denied wrongdoing.
 

The AMF's college of experts considered the contents of its
final report on Monday in conditions of exceptional secrecy and
the AMF was expected to issue a statement probably on Tuesday.
 

"We have no comment," a spokesman said, asked about the
report in Les Echos.
 

An AMF spokeswoman had no immediate comment.
 

The disclosure of the second and most serious of three
delays in deliveries of the world's largest passenger plane
sliced a quarter off the EADS share price in June 2006.
 

The announcement came weeks after core shareholders
Lagardere and Daimler had reduced their holdings and several
executives exercised stock options.
 

If the AMF decides to pursue the accusations it can report
the matter to its sanctions committee for possible penalties and
must inform the people concerned.
 

It can also report the matter to prosecutors, who have 
mounted a separate investigation.

Date created : 2008-04-02

COMMENT(S)