Page last updated at 19:19 GMT, Wednesday, 18 June 2008 20:19 UK

France charges ex-EADS executive

Airbus A380 prototype
The EADS group includes Airbus, manufacturer of the A380

Preliminary charges have been filed against a former EADS executive for selling company shares before disclosing delays to the A380 plane.

Jean-Paul Gut will be investigated for insider trading, but will be freed on a bail payment of 400,000 euros ($620,297; 317,147).

When details of delays to the A380 project were announced in June 2006, shares in EADS slumped 26% in a day.

Mr Gut has been detained since Monday. His lawyers deny any wrongdoing.

Anne Meaux, a spokeswoman for Mr Gut, said the charges were "the logical continuation of the procedure".

His lawyers have defended their client's sale of shares as a lawful exercise of stock options.

The Paris prosecutor began inquiries in 2006 and the financial markets authority, AMF, is also investigating.

Mr Gut, a former deputy chief executive, left EADS last year.

The AMF investigation is focused on sales of shares by 17 current and former EADS executives and shareholders.


SEE ALSO
France investigates EADS ex-boss
30 May 08 |  Business
Share sale quiz for EADS ex-boss
28 May 08 |  Business
EADS shares hit by A380 reports
05 May 08 |  Business
EADS sues over leaked documents
29 Jun 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific