DAIMLER SAYS IT WANTS TO OFFLOAD EADS SHARES – NOW IT IS UNDER INVESTIGATION IN FRANCE – POLITICS?

Dino D'Amore
By Dino D'Amore February 11, 2011 17:44

DAIMLER SAYS IT WANTS TO OFFLOAD EADS SHARES – NOW IT IS UNDER INVESTIGATION IN FRANCE – POLITICS?

German carmaker Daimler has been placed under formal investigation in France over alleged insider trading in Airbus parent EADS.

A French judge has already placed seven current and former EADS executives and media firm Lagardere under investigation in the case, which involves allegations that they knew about worsening A380 development delays when they sold shares in 2006.

Under France’s legal system, being placed under investigation is a step short of formal charges but can lead to trial. All those placed under suspicion so far have denied wrongdoing.

A separate regulatory investigation resulted in individuals and the two main industrial shareholders being cleared in 2009.

Dino D'Amore
By Dino D'Amore February 11, 2011 17:44
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