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Lagardere , Daimler and seven Airbus executives sent for trial for alleged insider trading-Agence France Presse


Sunday, 1 Dec 2013 07:00pm EST 

Lagardere SCA:Lagardere SCA and Daimler AG have been sent for trial in France for alleged insider trading in the sale of shares in aerospace and defense group EADS NV - Agence France Presse.According to judicial sources, a number of EADS NV's Airbus executives are also to face the trial, namely John Leahy, current COO for customers, Noel Forgeard, former Joint Chairman, Andreas Sperl, former Financial Director, Jean-Paul Gut, Alain Flourens, Erik Pillet and Olivier Andries.Lagardere SCA and Daimler AG are alleged to have sold 7.5 percent stakes in EADS NV in early 2006 in the knowledge that Airbus was encountering problems with the production of its A380 super jumbo aircraft.France's stock market regulator AMF carried out an investigation into the conduct of Lagardere SCA, Daimler AG and 17 EADS NV executives and concluded in 2009 that there was no evidence any of the shareholders had sought financial advantage through the illegal use of privileged information.APPAC, a group of small investors, subsequently registered a criminal complaint that led to a full-blown probe by examining magistrate.Lagardere SCA and Daimler AG both protest their innocence. 

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