Aug 6 (Reuters) - Airbus SE was sued on Thursday by
shareholders who accused the European planemaker of securities
fraud for misleading them about its ability to avoid and manage
corruption accusations over nearly 4-1/2 years.
The proposed class action was filed by shareholder Andrew
Kornecki in the federal court in Newark, New Jersey, and seeks
unspecified damages for Airbus' alleged violations of U.S.
Chief Executive Officer Guillaume Faury and his predecessor,
Tom Enders, as well as Chief Financial Officer Dominik Asam and
his predecessor, Harald Wilhelm, were also named as defendants.
Spokesmen for Airbus did not immediately respond to requests
for comment on behalf of all defendants.
Airbus agreed in January to a $4 billion settlement of
corruption charges by U.S., U.K. and French authorities stemming
from more than one dozen countries, and which a U.S. judge
called a "pervasive and pernicious bribery scheme."
In July, the U.K.'s Serious Fraud Office announced
corruption charges against Airbus' GPT Special Project
Management unit and three people over a contract to provide
communications services for the Saudi Arabian National Guard.
Thursday's complaint accused Airbus of concealing shortfalls
in its compliance controls, exposing it to greater risk of
probes on whether bribery and corruption helped boost revenue
It said this resulted in various regulatory actions and
settlements that caused Airbus' stock price to fall.
The complaint seeks damages for holders of Airbus' American
depository receipts from Feb. 24, 2016 to July 30, 2020.
It is common in the United States for shareholders to sue
companies over investment losses they attribute to false,
misleading or inadequate disclosures.
The case is Kornecki v Airbus SE et al, U.S. District Court,
District of New Jersey, No., 20-10084.
(Reporting by Jonathan Stempel in New York; Editing by Dan