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EADS insider trading probe comes up empty

EADS insider trading probe comes up empty
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Bosses and former bosses at EADS, the parent company of planemaker Airbus, have been cleared by stock market regulators of insider trading and market abuse.

A three-year long investigation focused on the sale of shares in the weeks and months before the announcement of worsening delays in deliveries of the A380 superjumbo a revelation that caused EADS shares to slump 26 percent.

France’s Financial Markets Authority said it had not found any evidence that 17 people who exercised share options knew about the problems when they sold shares.

They included former co-chief executive Noel Forgeard, the boss of major shareholder Lagardère, Arnaud Lagardère, and current Airbus CEO Tom Enders.

EADS itself was also was cleared of misleading financial markets over the extent of delays to the A380, the world’s largest airliner.

The Franco-German aerospace company said it is “confident” that a parallel criminal investigation focusing on five of those questioned by the market regulator will reach the same conclusion.