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Charges of insider trading to be filed at Airbus company

France's stock market regulator said yesterday it would bring charges against some people after investigating alleged insider trading at Airbus parent company EADS.

The Autorite des Marches Financiers, or AMF, said it would initiate proceedings for breach of market information duties and for breach of insider trading rules.

AMF will notify people concerned in the "coming days," and will transfer the investigation "immediately" to the Paris prosecutors' office, the regulator said in a statement.

AMF and the French judicial authorities are investigating an alleged insider trading case concerning EADS' management and main shareholders in 2005 and 2006, when massive amounts of the company's shares were sold just before announcements that deliveries of the A380 superjumbo would be delayed.

The June 2006 announcement of delays sent the EADS stock price crashing 26 percent in one day.

EADS said in a company statement that the "financial risk associated with this procedure and its possible consequences is not material."
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