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Transparency Task Force event: “The Airbus Scandal; and the Power of Class Actions to get Justice”

4th July 2023 @ 7:00 pm - 8:30 pm CEST

Transparency Task Force is holding an online event, to draw attention to the collective redress action by Stichting Investor Loss Compensation (SILC) for individual Airbus investors who have incurred damages, and to discuss the “Power of Class Actions to get Justice”.

The event is scheduled for Tuesday, July 4th, between 6:00 PM and 7:30 PM BST (19:00 – 20:30 CET) via Zoom.

For many years, Airbus – the global supplier of aircraft, and Europe’s largest aerospace multinational – facilitated large-scale bribery and corruption in its aviation business and did not adequately inform the investing public about its wrongful conduct. Investigations by various authorities subsequently resulted in Airbus having to pay fines of approximately € 3.6 billion.

The fines severely affected the company’s earnings and tarnished Airbus’ reputation. When this information became publicly known, the inflated price of their shares fell sharply, causing large losses for investors.

In May 2022, Airbus settled a class action lawsuit and compensated only shareholders who bought Airbus American Depositary Receipts (ADRs) and foreign ordinary shares in the USA. Shareholders who bought Airbus shares through European stock exchanges were left out.

In February BETTER FINANCE joined forces with Stichting Investor Loss Compensation (SILC), assisting Airbus shareholders recover losses resulting from Airbus’ involvement in bribery practices and other wrongful conduct.

BETTER FINANCE calls on all investors who bought and/or held Airbus shares between January 2014 and December 2020 on European stock exchanges to come forward and join the shareholder recovery action against Airbus by SILC by registering for free at www.airbusclaim.com.

We’ll be hearing from Quirijn Bongaerts, who is the Lead Counsel for SILC (Stitching Investor Loss Compensation) an independent foundation that assists shareholders in recovering investment losses from Airbus; and Jan-Willem de Jong, whose client AIRS (Airbus Investors Recovery Stitching), a Dutch non-profit foundation, is seeking compensation for investors who purchased Airbus shares on European stock exchanges.


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