Shareholder Class Action Lawsuit against EADS

A shareholder class action lawsuit has been filed in a Harlem court alleging “disastrous financial consequences” for shareholders when EADS shares fell 26 percent on June 14 in the wake of delays to the A380 super jumbo with the suit filed in the Netherlands where the Airbus parent group is registered.

The Association of Active Shareholders who filed the suit said in a statement that shareholders had been duped by the financial communication at EADS as it discovered bottlenecks in the wiring assembly process on the A380.

French regulator AMF is investigating the group’s financial communications as well as share trading by senior executives.

Link [edition.cnn.com/2006/BUSINESS/07/10/eads.suit.reut]

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