The Straits Times
Published on Sep 04, 2012

Hermes files legal complaint over LVMH stock buy


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.