Chronology of EADS Insider Trading Probes

Timeline of France’s investigation into alleged insider trading among executives and shareholders of Airbus maker EADS.

1996

Airbus unrolls a concept for a very large plane, which eventually evolves into the A380.

2005

–Jan. 18: Airbus unveils the A380 in a glitzy ceremony known as the “reveal,” attended by heads of state of France, Germany, Britain and Spain.

–April 27: On the day of the A380’s first test, Airbus announces a delay. Delivery to Singapore Airlines is put back from March 2006 to the second half of the year.

–November: EADS executives sell shares.

2006

–Feb. 17 and March 1: A380 problems and possible delays discussed at EADS meetings.

–March 8-21: EADS executives sell more shares.

–April: Major shareholders Lagardere Groupe and DaimlerChrysler announce plans to cut their EADS stake.

–June 13: EADS cuts profit forecast and announces further A380 delays. EADS shares fall 26 percent.

–June 16: French markets regulator announces it’s investigating possible insider trading at EADS.

–July 2: EADS co-CEO Noel Forgeard and Gustav Humbert, head of civil plane unit Airbus, resign.

–Nov. 23: The Paris prosecutor’s office opens probe into insider trading allegations.

2007

–Oct. 3: The preliminary regulator report on 17 EADS executives finds “massive insider trading.”

–Oct. 15: First A380 delivered to Singapore Airlines.

2009

–July 28: Regulator’s initial report reduces to seven the number of EADS executives under suspicion.

–Dec. 17 — Regulator rules that current and former EADS executives did not break insider trading laws when they sold shares, clearing them as well as the company itself and shareholders Lagardere and Daimler.

Source

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