France’s stock market watchdog has filed a formal complaint against Airbus parent EADS.
The regulators say they have found evidence of insider trading at the company following an 18-month investigation.
They are initiating sanction proceedings against several unidentified individuals for violations of French insider trading rules and against the company itself for misleading investors.
The case centres on whether EADS management were aware of serious problems with the production of the A380 before they sold shares.
Following the announcement that A380 deliveries would be delayed, EADS shares plummeted.
The case will now be referred to Paris prosecutors, but the AMF stressed that nobody has yet been found guilty of illegal activity.
According to the BBC, EADS said it would “exercise vigorously” its right to defend itself.
Chief executive Louis Gallois said:”EADS will support its managers in their defence, it intends to demonstrate that it has applied standards of excellence when communicating to the market and has acted with full transparency.”
