Former EADS No. 2 in Insider Trading Probe

The former number two at EADS, ex-strategy chief Jean-Paul Gut, has been placed under formal investigation in a French probe into suspected insider trading at the Airbus parent company, a judicial source said on Wednesday.

The move comes two weeks after the former co-chief executive of Europe's largest aerospace group, Noel Forgeard, was placed under investigation, a step short of formal charges but which can lead to trial.

Both have denied wrongdoing.