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The Financial Markets Authority said in a statement it had begun sanction procedures and would pass the results of an 18-month investigation over to criminal prosecutors.

The statement did not name the executives, but a source said 17 individuals were involved, The New York Times reported.

The complaint stems from the actions of EADS executives who exercised stock options in the months preceding a public disclosure the company was experiencing production problems with the Airbus A380 superjumbo jet in June 2006.

EADS Chief Executive Louis Gallois said the company would "support its managers in their defense."

EADS "intends to demonstrate that it has applied standards of excellence when communicating to the market and has acted with full transparency", Gallois said.

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