Home Videos Photos

Paris Prosecutors Investigate Hermes' Complaint Against LVMH

| Filed under: Fashion SmashionLegal MattersFrancophiliaLVMHHermes

Hermes got their wish!

The Paris prosecutor's office has opened a preliminary investigation into LVMH, after the family-owned label accused them of insider trading, collusion and manipulating stock prices.

Based on their investigation, the prosecutors will either drop the case or hand it over to an investigating judge.

In case you've lost track, LVMH's stake in Hermes shares has slowly grown over the past two years from 17%, to 20% and now, 22.3%.

The French stock market regulator, AMF, started their own investigation into LVMH in 2010, when they revealed they acquired a 17% stake in Hermes through cash-settled equity swaps, which "allowed it to circumvent the usual market rules".

AMF has yet to determine whether or not LVMH respected market rules, but they're also being asked to weigh in separately on Hermes' complaint.

Inneresting.

No word on when the prosecutors will make their decision, but when they do we'll let U know!

[Image via Retna LTD.]

Tags: , , , , , , ,

Worst Dressed Celebs Of The Week!
Ariana Grande's 'Good Side' Has Taken Over Every Magazine! See Which Publications Met The Diva's Left-Side Demands!
Lauren Conrad's Top Ten Style Tips In Gifs!
Beyoncé's Best On Stage Looks: See The Evolution HERE!
Best Dressed Celebs Of The Week!
Perez's Pics Of The Week: Sept. 5th-12th, 2014
Email this  »

Comments are closed.