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Airbus faces $ 339 million class action lawsuit in the Netherlands: Lawyers



(Reuters) – Lawyers claiming to represent "one hundred" institutional investors have filed a class action lawsuit against Airbus in a Dutch court, claiming at least 300 million euros ($ 339 million) in damages as a result [19659002] The lawsuit, filed by the Foundation for Investor Loss Compensation on January 3 in The Hague District Court, states that investors suffered losses after buying shares in Airbus SE that were overpriced because the company withheld information about corporate corruption. The lawsuit also cites auditors KMPG and Ernst & Young as respondents.

An Airbus spokesman, who revealed that it was facing civil claims in the Netherlands in its third quarter 2021

performance report, said it would not comment on ongoing litigation. In its performance report, Airbus said it believed it had "solid reasons to defend itself against the allegations."

KMPG and Ernst & Young did not immediately respond to requests for comment.

The Dutch newspaper Het Financieele Dagblad first reported the report against Airbus, headquartered in Toulouse, France and registered with the Dutch city of Leiden.

bribery and corruption due to sales practices.

"More than 100 institutional investors have now joined the foundation, and the expectation is that that number will rise," the report said.

"The damage suffered by current participants is about 300 million euros. When more participants join, this number will increase, "it says.

The Dutch notification calls on the Representatives were summoned to appear before a court hearing on April 6.


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