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FI - Eads Execs Cleared Of Insider Trading  
User currently offlineAstuteman From United Kingdom, joined Jan 2005, 10008 posts, RR: 96
Posted (4 years 8 months 2 weeks 4 days 9 hours ago) and read 1628 times:
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Just spotted this article in flightglobal.

http://www.flightglobal.com/articles...eared-of-a380-insider-trading.html

Quote:
All of the Airbus and EADS executives accused of insider trading during a long-running investigation have been cleared by the French stock exchange regulator Autorite des Marches Financiers.

This recent thread also refers....

Eads A380 Insider Trading Hearing Phase Completed (by Revelation Dec 1 2009 in Civil Aviation)

Rgds

5 replies: All unread, jump to last
 
User currently offlineRevelation From United States of America, joined Feb 2005, 12468 posts, RR: 25
Reply 1, posted (4 years 8 months 2 weeks 4 days 8 hours ago) and read 1578 times:

Thanks for posting.

Quote:
The AMF states that difficulties in the A380 industrial process, discussed at two key meetings in February and March 2006, did not constitute privileged information.

It agrees that these problems were manageable, with only a few alterations in A380 delivery schedules, and that the delays were not on the same scale as those which led EADS to issue a profit warning three months later, causing its share price to drop by 26%.

It'd be interesting to know which problems were being discussed in those two meetings vs. the later ones.

Quote:
In a statement EADS says it is "pleased" that the sanctions commission has dismissed all the charges and recognised that the company has complied with market information requirements regarding the A380 programme.

Yes, I'm sure there are very many pleased EADS executives today.



Inspiration, move me brightly!
User currently offlineBaroque From Australia, joined Apr 2006, 15380 posts, RR: 59
Reply 2, posted (4 years 8 months 2 weeks 4 days 8 hours ago) and read 1569 times:



Quoting Astuteman (Thread starter):
Just spotted this article in flightglobal.

http://www.flightglobal.com/articles...eared-of-a380-insider-trading.html

Quote:
All of the Airbus and EADS executives accused of insider trading during a long-running investigation have been cleared by the French stock exchange regulator Autorite des Marches Financiers.

Well there you go. That must come as a surprise in some quarters.

Not sure I agree with the options plans but given that they were the way EADS ran things, it always looked as if it was going to be difficult to tie sales to insider information. Presumably as the article indicates it would have had to have been unusual insider information, you rather would hope all those guys always had a stack of inside information which gets us back to the options and trading.

Is there is any indication that the system has been changed. That would be a bright idea, to go along with figuring out how to make more A380s and get the A350 out on schedule.  duck 


User currently offlineAstuteman From United Kingdom, joined Jan 2005, 10008 posts, RR: 96
Reply 3, posted (4 years 8 months 2 weeks 4 days 6 hours ago) and read 1521 times:
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Quoting Revelation (Reply 1):
It'd be interesting to know which problems were being discussed in those two meetings vs. the later ones.

I took that to mean that the problems identified were more "normal business in a big development programme" problems (the "wing break" problem might be an example), i.e. ones that weren't likely to affect the share price.

It appears that the "Oops, we've designed two halves of different aeroplanes and they don't fit" post-dated the share trading (or perhaps more accurately, there was no evidence that it didn't).

Quoting Revelation (Reply 1):
Yes, I'm sure there are very many pleased EADS executives today.

Probably as many as there are disappointed A-netters today..  Wink

Rgds


User currently offlineBreiz From France, joined Mar 2005, 1917 posts, RR: 2
Reply 4, posted (4 years 8 months 2 weeks 4 days 6 hours ago) and read 1503 times:

This is a kind of usual situation.
Either they knew of problems leading to share price fall, and they are crooks, or they did not know, and they are very poor managers.
In this case, the court has decided that they were poor managers.
Either ways, I would not like to hire them.


User currently offlineBaroque From Australia, joined Apr 2006, 15380 posts, RR: 59
Reply 5, posted (4 years 8 months 2 weeks 4 days 3 hours ago) and read 1427 times:



Quoting Breiz (Reply 4):
In this case, the court has decided that they were poor managers.
Either ways, I would not like to hire them.

Fair comment. Always was the rather unattractive choice!  Wow!

Quoting Astuteman (Reply 3):
It appears that the "Oops, we've designed two halves of different aeroplanes and they don't fit" post-dated the share trading (or perhaps more accurately, there was no evidence that it didn't).

If they had sold a few more, that suggests a way to increase production. Design the two other halves and you would be able to chose between French and German wiring.  duck   duck  Two ducks as I will assume two sets of incoming missiles!


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