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Ex-EADS executive charged with insider trading

Former European Aeronautic, Defence & Space Company, Chief Operating Officer, Jean-Paul Gut, was charged with insider trading for selling shares before disclosing production delays on Airbus SAS’s A380 superjumbo airliner.

Gut, 46, was arraigned on a preliminary count of insider trading by investigating judges and released on bail of 400,000 euros, said Isabelle Montagne, a spokeswoman for Paris prosecutors. Gut is the second former EADS executive charged in the case, according to the Bloomberg News on Wednesday.

Paris prosecutors investigating whether company executives and stockholders Lagardere SCA and Daimler AG sold EADS shares based on internal information about production problems for the A380, the world’s largest passenger plane, Former EADS co-Chief Executive Officer, Noel Forgeard, was charged last month after being held for 35 hours.--Punch

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