NEW YORK (AP) -- A group of Airbus parent EADS shareholders have filed lawsuits accusing the planemaker of insider trading and misleading investors about problems with the A380 jumbo jet.
The two lawsuits filed last week in federal court in New York allege that European Aeronautic Defence & Space Co. managers misled investors about the company's financial health and its ability to meet delivery targets for the A380.
One of the lawsuits accuses managers and core EADS shareholders of engaging in ''rampant insider trading based on their knowledge of the problems surrounding the A380,'' New York-based law firm Dreier LLP said in a statement.
Another lawsuit filed by San Diego-based firm Coughlin Stoia alleges that EADS falsely assured investors that it would overcome technical problems related to the A380 and failed to disclose ''insurmountable delays'' in manufacturing the superjumbo.
Both complaints are seeking class-action status.
A U.S.-based EADS spokesperson did not immediately return a call seeking comment Monday.
An EADS spokesman told The Wall Street Journal on Sunday the company hadn't been briefed on the lawsuits but that it was ''confident we have been crystal clear in communicating with the market.''
Cost overruns and multiple delays to the A380 superjumbo and a redesign of the A350 -- the planned competitor to Boeing's 787 -- have wiped billions of euros off EADS' profits. However, the company last month reported positive first-quarter earnings on increased deliveries and cost-cutting.
