PARIS (Bloomberg) – Daimler AG, which owns a 15 percent stake in European Aeronautic, Defense & Space Co., was charged with insider trading by Paris judges in a five-year-old investigation into sales of EADS shares.
Judges Serge Tournaire and Xavier Blanc questioned Daimler Wednesday about its decision to sell EADS shares in April 2006, two months before the planemaker disclosed production delays on the A380, the world's biggest passenger plane.
“This whole matter is quite unusual and it is quite difficult to understand,” Florian Martens, a spokesman for Daimler, said in an interview Thursday. “We are quite confident” the company will be cleared.
Daimler and another EADS shareholder, Lagardere SCA, face charges over their simultaneous sale of 7.5 percent stakes in 2006. Seven current and former EADS executives have also been charged in the criminal probe.
The criminal inquiry continued after the French financial regulator, the Autorite des Marches Financiers, cleared all parties in 2009, saying there was no privileged information.