LOS ANGELES, 4th September 2020 / PRNewswire / – The law firms of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of the persons and entities that Airbus SE ("Airbus" or the "Company") (OTC: EADSY, EADSF) have between-purchased and otherwise acquired ADRs February 24, 2016, and July 30, 2020including (the "Class Period"). Airbus investors have up 5th October 2020 to file a motion from the lead plaintiff.
If you are a shareholder who has suffered a loss, click here to participate.
On March 15, 2020The Wall Street Journal reported that according to internal documents related to the company $ 4 billion When settling bribes, Airbus executives had previously hoisted red flags over fees paid to a number of middlemen who had worked with the helicopter division, led at the time by the current chief executive officer, and possibly against global bribery – and violated the rules of corruption.
In this news, the Airbus ADRs fell $ 3.44 per share or nearly 16% to close $ 18.46 per share on March 16, 2020and foreign Airbus ordinaries fell $ 7.97 per share, or about 9% to close at $ 77.75 per share on March 16, 2020.
Then further July 30, 2020The Wall Street Journal reported that the UK Serious Fraud Bureau had charged an Airbus subsidiary and three people with corruption related to a UK defense contract Saudi Arabia.
In this news, the Airbus ADRs fell $ 0.67 per share, or about 3% to close at $ 18.13 per share on July 31, 2020and foreign Airbus ordinaries fell $ 2.85 per share or about 4% to close at $ 72.10 per share on July 31, 2020.
The complaint filed in this class action alleges that throughout the class period, defendants made materially false and / or misleading statements and did not disclose material adverse facts about the business, business and prospects of the company. Specifically, Defendants have failed to advise investors: (1) that Airbus policies and protocols were inadequate to ensure the Company's compliance with relevant anti-corruption laws and regulations; (2) as a result, Airbus has committed bribery, corruption and fraud in order to improve its business in relation to its commercial aircraft, helicopter and defense equipment business; (3) As a result, Airbus' revenue was partially derived from illegal conduct and was therefore unsustainable. (4) the full scope and gravity of Airbus' misconduct; (5) This government investigation resolution against Airbus is expected to cost Airbus billions in billing and legal costs and subject the company to significant ongoing government investigations and oversight. and (6) that as a result, the Company's public statements were materially false and misleading at all relevant times.
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If you bought Airbus securities during the class period, you can move the court at the latest 5th October 2020 ask the court to appoint you as the lead plaintiff. You don't need to take any action at this point to be a member of the class. You can keep an attorney of your choice or you can take no action and remain an absent member of the class. If you have purchased Airbus securities, have any information or would like to learn more about these claims, or have any questions about this announcement or your rights or interests in relation to these matters, please contact Frank R. Cruz, the law firms of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to (Email protected)or visit our website at www.frankcruzlaw.com. When inquiring by email, please include your mailing address, telephone number and number of shares purchased.
This press release may be viewed as a solicitor advertisement in some jurisdictions under applicable laws and ethical rules.
SOURCE The offices of Frank R. Cruz, los Angeles