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Hermes files legal complaint over LVMH stock buy

Published on Sep 4, 2012 8:22 PM
 
Picture of the frontage of a French luxury goods firm Hermes' shop taken on Oct 25, 2010 in Paris. High-end French retailer Hermes said on Tuesday that it has filed a legal complaint over the manner in which luxury giant and rival LVMH bought a stake in the company in 2010. -- PHOTO: AFP

PARIS (AFP) - High-end French retailer Hermes said on Tuesday that it has filed a legal complaint over the manner in which luxury giant and rival LVMH bought a stake in the company in 2010.

In a brief statement, Hermes said it had filed a complaint against LVMH on July 10.

"This complaint relates to the terms in which LVMH became a stakeholder in Hermes International," Hermes said.

A judicial source said the complaint was for insider trading, collusion and price manipulation. It is still being studied by Paris prosecutors, the source said.

 
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