France’s biggest publisher Lagardere SCA’s involvement in the alleged insider trading of European Aeronautics Defence and Space Company stock is under investigation. Last year, French stock market regulator, Autorite des Marches Financiers, had cleared all 17 executives and two companies, including Lagardere, of insider-trading charges in the case. However, the ruling didn't mark the end of the case as a parallel judicial investigation into alleged insider trading is still under way, with Lagardere now subject to a formal investigation.
"At the conclusion of the preliminary examination of Jan. 27, 2011, judges Serge Tournaire and Xavier Blanc indicted the legal entity Lagardere SCA for insider trading, despite stating that they have no evidence against it," Lagardere said in a statement.
Lagardere, which still holds 7.5% of EADS, said in a statement it “is totally confident in the fact that this process will end, as have others, in its exoneration”.