Printer Friendly

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.

((Comments on this story may be sent to
COPYRIGHT 2006 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:European Aeronautic Defence and Space Co
Publication:Airline Industry Information
Article Type:Brief article
Geographic Code:4EUNE
Date:Jun 27, 2006
Previous Article:Boeing evaluates future of Connexion by Boeing unit.
Next Article:China Eastern to acquire 30 Airbus A320s.

Related Articles
EADS to continue Airbus A350 development.
BAE Systems wants "astronomical" price for stake in Airbus, says EADS.
Moody's lowers outlook on EADS after announcement of Airbus A380 delays.
French newspaper suggests merger between EADS and Airbus.
BAE Systems' Airbus stake valued at EUR2.75bn.
Police search offices as part of EADS share dealing investigation.
QIA may acquire stake in EADS - report.
Streamline deal on the cards.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters