GlobeNewswire
SHAREHOLDER ALERT: The law firm Pomerantz reminds shareholders who have suffered losses on their investment in Airbus SE of the class action and the upcoming deadline – EADSY; EADSF
NEW YORK, September 16, 2020 (GLOBE NEWSWIRE) – Pomerantz LLP announces that a class action lawsuit has been filed against Airbus SE (“Airbus” or the “Company”) (OTCMKTS: EADSY; EADSF) and certain of its officers. The class action lawsuit, filed in the United States District Court for the District of New Jersey, and indexed as 20-cv-10084, is in the name of a group consisting of all persons and entities other than the defendants who have purchased or otherwise acquired Airbus securities in the United States between February 24, 2016 and July 30, 2020, both dates inclusive (the “Class Action Period”), seeking to recover damages caused by the breaches by the defendants of the federal securities laws and to bring remedies under Section 10 (b) 20 (a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and rule 10b-5 enacted pursuant thereto. ci, against the Company and some of its senior officials. If you are a shareholder who purchased Airbus securities during the course period, you have until October 5, 2020 to ask the court to appoint you as the group’s lead plaintiff. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll free, Ext. 7980. Those inquiring by e-mail are encouraged to include their mailing address, phone number and number of shares purchased. [Click here for information about joining the class action]Airbus was founded in 2000 and is based in Leiden, the Netherlands. The Company is a multinational aerospace company, operating through its Commercial Aircraft, Defense and Space and Helicopters divisions. The Company’s American Depository Receipts (“ADRs”) trade in the United States on the over-the-counter (the “OTC”) under the ticker symbol “EADSY”, and the Company’s foreign ordinary shares (“ordinary Foreign ”) are traded in the United States on the OTC under the symbol“ EADSF ”. In August 2012, the Serious Fraud Office (“SFO”) of the United Kingdom (“UK”) announced that it had opened a formal criminal investigation into one of Airbus subsidiaries, GPT Special Project Management Ltd. (“GPT”), acquired by Airbus in 2007. The allegations called into question a service contract entered into by GPT before its acquisition by Airbus, relating to the activities carried out by GPT in Saudi Arabia. Unbeknownst to investors and the public, however, Airbus was at an increased and foreseeable risk of being faced with significant potential liabilities for other suspected illegal activities which would subsequently be investigated by government authorities in the United States. whole world. These activities, combined with the GPT investigation, involved all three divisions of Airbus, calling into question the sustainability of the company’s reported profits during the claim period. The complaint alleges that throughout the period of the action, the defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, the defendants made false and / or misleading statements and / or failed to disclose: (i) that Airbus policies and protocols were insufficient to ensure the company’s compliance with relevant anti-corruption laws and regulations; (ii) that, as a result, Airbus has engaged in bribery, corruption and fraud in order to strengthen its business with respect to its commercial aircraft, helicopter and defense contracts ; (iii) that, as a result, Airbus’ profits were derived in part from illegal and therefore unsustainable behavior; (iv) the extent and seriousness of Airbus’ fault; (v) that the resolution of the government investigations into Airbus would likely cost Airbus billions of dollars in legal fees and settlements and subject the Company to significant ongoing government investigation and surveillance; and (vi) that, as a result, the Company’s public statements were materially false and misleading at all material times. On August 8, 2016, Reuters announced that the United Kingdom had initiated a corruption investigation into Airbus. More specifically, the SFO announced that it had “opened a criminal investigation into allegations of fraud, corruption and bribery in the Airbus civil aviation sector”, which “relate to irregularities concerning third party consultants”. The investigation follows Airbus’ report of “misrepresentation and omissions” involving external contractors in some requests for export finance to UK regulators and European export credit agencies earlier in the year. year, which the company had discovered through an internal investigation. $ 0.21 per share, or 1.49%, to close at $ 13.86 per share on August 8, 2016, and Airbus’ foreign ordinary fell $ 0.82 per share, or 1.45%, to close at $ 55.58 per share on August 8, 2016. opened their investigations into the subject matter of the OFS allegations in 2017 and 2018, respectively. On January 31, 2020, media reported that Airbus had reached a deal with US, UK and French prosecutors to settle corruption and export control offenses against the company for 3.6 billion euros (4 billion euros). dollars). In accordance with the regulations, Airbus also agreed to appoint an external compliance officer for at least two years to oversee the Company’s handling of its defense-related sales and disclosures. At this news, Airbus ADRs fell $ 0.72 per share, or 1.93%, to close at $ 36.68 per share on January 31, 2020, and Airbus Foreign Ordinaries fell 2 , $ 21 per share, or 1.48%, to close at $ 147.00 per share on Jan.31, Then on March 15, 2020, the Wall Street Journal reported that Airbus executives had already raised red flags about the fees paid to a number of intermediaries working with its helicopters division, headed at the time by the current CEO of the company (“PDG”), the defendant Guillaume MJD Faury (“Faury”), who allegedly may have violated global bribery and bribery rules, according to internal documents related to Airbus’ $ 4 billion bribery settlement, which had not been made public and / or previously reported., Airbus ADRs have fell $ 3.44 per share, or 15.71%, to close at $ 18.46 per share on March 16, 2020, and Airbus Foreign Ordinary on t fell $ 7.97 per share, or 9.3%, to close at $ 77.75 per share on March 16, 2020., On July 30, 2020, the Wall Street Journal reported t The SFO had indicted GPT and three individuals of corruption under a defense contract that the United Kingdom had entered into with Saudi Arabia. These charges were the culmination of investigations initiated by the SFO in August 2012, and Airbus’ ADRs fell $ 0.67 per share, or 3.56%, to close at $ 18.13 per share on July 31. 2020, and foreign Airbus equities fell $ 2.85 per share, or 3.8%, to close at $ 72.10 per share on July 31, 2020. Pomerantz, with offices in New York, Chicago, Los Angeles and Paris, is recognized as one of the leading firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of class actions in securities. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and malpractice. The firm has recovered numerous indemnities of several million dollars on behalf of the members of the group. See www.pomerantzlaw.com CONTACT: Robert S. Willoughby Pomerantz LLP [email protected]
