September 7, 2014 / 3:28 PM / 3 years ago

Paris court sets date for Airbus insider trading case: Der Spiegel

The logo of Airbus Group is seen during the first public flight of an E-Fan aircraft during the e-Aircraft Day at the Bordeaux Merignac airport, southwestern France, April 25, 2014. REUTERS/Regis Duvignau

FRANKFURT (Reuters) - More than half a dozen current and former managers at European plane maker Airbus will face a criminal court hearing in Paris next month in a long-running insider trading case, Der Spiegel magazine reported.

The managers are alleged to have known about delays to the A380 superjumbo project when they sold shares in former Airbus parent EADS in early 2006. The announcement of delays prompted a sharp fall in the EADS stock price.

All the accused parties have denied wrongdoing.

The Paris court is due to begin hearing the case on Oct. 3, Der Spiegel said.

“We are supporting our current and former management. They have all been cleared by the (French market regulator) AMF back in 2009 and we expect this to happen again,” an Airbus Group spokesman said on Sunday.

Reporting by Jonathan Gould and Tim Hepher. Editing by Jane Merriman

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