Ex- EADS/Airbus executive charged with insider trading
This guys are so greedy.
Former European Aeronautic, Defence & Space Co. Chief Operating Officer Jean-Paul Gut was charged with insider trading for selling shares before disclosing production delays on Airbus SAS’s A380 superjumbo airliner.
Gut, 46, was arraigned on a preliminary count of insider trading by investigating judges and released on 400,000 euros ($619,000) bail, said Isabelle Montagne, a spokeswoman for Paris prosecutors. Gut is the second former EADS executive charged in the case.
Paris prosecutors are investigating whether company executives and shareholders Lagardere SCA and Daimler AG sold EADS shares based on internal information about production problems for the A380, the world’s largest passenger plane. Former EADS co-Chief Executive Officer Noel Forgeard was charged last month.
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