Current and former executives of EADS, parent of Airbus, were cleared by France’s AMF regulators last week over insider trading allegations.
It ends three years of investigation into the company which triggered speculation when its share price fell 26 percent in June 2006 following long delivery delays for its A380.
However, the watchdog said Friday it had found no evidence that the 17 people who exercised share options and sold their shares in the weeks and months beforehand knew about the problems.
The decision has cleared current Airbus Chief Executive Tom Enders, the former co-chief executive of EADS Noel Forgeard and the company’s core industrial shareholders, carmaker Daimler and media group Lagadere.
Airbus sales head John Leahy was also cleared while EADS itself was cleared of misleading financial markets over A380 delays.
The AMF have now cut down its suspects from the original 17 to 7 and continues to probe EADS in other proceedings related to the case.
Source = e-Travel Blackboard: J.L