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June 16, 2006
Airbus Enron: CEO Probed For Selling Stock Before Price-Crushing Bad News
Remember that story a few days ago about Airbus not meeting its production deadlines, and losing business to Boeing? Crushed the stock price. Cost it a lot of business.
The CEO of Airbus' parent company just happened to have sold stock before that news became public.
European Aeronautics Defence & Space Co.'s French co-CEO, Noel Forgeard, described as an "unfortunate coincidence" the stock sales in March on which he earned 2.5 million euros ($3.1 million) in profits.
Strong. Tough.