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LVMH Guilty Of "Wrongdoing" In Hermes Acquisition

| Filed under: Legal MattersBusiness BlitzLVMHHermes

hermes-suing-lvmh-for-insider-trading.jpg

So they were guilty after all!

Hermes scored a small victory this week in their ongoing legal battle royal with LVMH .

After requesting an inquiry into how LVMH acquired their 22.3% stake in the company, the French market watchdog Autorite des Marches Financiers concluded the mega-luxury brand was guilty of "wrongdoing".

The specifics were not released, but AMF chairman, Gérard Rameix, did say a committee will examine the findings to decide how to deal with LVMH, which may include financial penalties.

A French court also asked AMF's opinion on LVMH's counter-suit that accuses Hermes of blackmail, slander and illegal competition.

Until the two meet again, we’re sure their high-priced attorneys will continue to do battle.

This is certainly getting very inneresting!

[Image via Retna LTD.]

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