Shareholders launch legal action against EADS.
European Aeronautic Defence and Space Co (EADS) is facing a lawsuit from shareholders following its announcement of delays to the manufacture and delivery of the new Airbus A380 aircraft.
The Association of Active Shareholders, a French shareholder group, has said that it plans to launch a "French-style class action" suit against EADS and is seeking up to EUR10bn in damages.
Shares in EADS fell 26% after the company's Airbus unit announced the A380 delays two weeks ago, according to The Associated Press.
The problems are expected to cost EADS approximately EUR2bn over four years from 2007.
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|Title Annotation:||European Aeronautic Defence and Space Co|
|Publication:||Airline Industry Information|
|Article Type:||Brief article|
|Date:||Jun 27, 2006|
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