A lawsuit was filed on behalf of investors in Airbus SE (OTCMKTS:EADSY; EADSF) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/19/2020 -- An investor, who purchased shares of Airbus SE (OTCMKTS: EADSY; EADSF), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Airbus SE.
Investors who purchased shares of Airbus SE (OTCMKTS: EADSY; EADSF) have certain options and for certain investors are short and strict deadlines running. Deadline: October 5, 2020. OTCMKTS: EADSY; EADSF investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On August 8, 2016,it was reported that the U.K. had opened a corruption probe into Airbus SE. Specifically, the United Kingdom Serious Fraud Office ("SFO") announced that it had "opened a criminal investigation into allegations of fraud, bribery, and corruption in the civil aviation business of Airbus," which "relate to irregularities concerning third party consultants." The investigation followed Airbus's flagging of "misstatements and omissions" involving outside contractors in certain export financing applications to U.K. regulators and the European Export Credit Agencies earlier in the year, which the Company had found through an internal probe.
France and the U.S. later opened their investigations into the subject of the SFO's allegations in 2017 and 2018, respectively.
On January 31, 2020, media outlets reported that Airbus had agreed to a deal with U.S., U.K. and French prosecutors to settle bribery and export-control violations against the Company for €3.6 billion ($4 billion). Pursuant to the settlement, Airbus also agreed to appoint an external compliance officer for at least two years to monitor the Company's handling of its defense-related sales and disclosures.
On March 15, 2020, it was reported that Airbus SE executives had previously raised red flags about fees paid to a number of middlemen working with its helicopter division, led at the time by the Company's current Chief Executive Officer ("CEO"), Defendant Guillaume M.J.D. Faury ("Faury"), that may have violated global bribery and corruption rules, according to internal documents related to Airbus's $4 billion bribery settlement, which were not previously made public and/or reported.
On July 30, 2020, it was reported that the SFO had charged Airbus's subsidiary, GPT Special Project Management Ltd and three individuals with corruption in connection with a defense contract the U.K. had arranged with Saudi Arabia. These charges were the culmination of the investigations initiated by the SFO back in August 2012.
The plaintiff claims that between February 24, 2016, and July 30, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that Airbus's policies and protocols were insufficient to ensure the Company's compliance with relevant anti-corruption laws and regulations, that, consequently, Airbus engaged in bribery, corruption, and fraud in order to enhance its business with respect to its commercial aircraft, helicopter, and defense deals; (iii) that, as a result, Airbus's earnings were derived in part from unlawful conduct and therefore unsustainable, the full scope and severity of Airbus's misconduct, that resolution of government investigations of Airbus would foreseeably cost Airbus billions of dollars in settlements and legal fees and subject the Company to significant continuing government investigation and oversight, and that, as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Airbus SE (OTCMKTS: EADSY; EADSF) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.