LVMH Press Release - Hermes Attempts to Circumvent AMF Enquiry
PARIS -- September 04, 2012
LVMH today learned via a dispatch on French media service AFP that Hermès had
filed a lawsuit with the Paris prosecutor ‘on the circumstances through which
LVMH acquired shares in Hermès in 2010’.
LVMH notes that the AMF, the French regulatory body responsible for market
supervision, opened an enquiry into ‘financial information and share trading
between LVMH and Hermès International’ on 5th November 2010.
By filing its complaint, Hermès seeks to bypass the appropriate AMF channels
without waiting for the result of the official enquiry and without determining
the extent of the AMF’s findings to date. In addition, the filing carries
serious and unfounded accusations about market failings.
For its part, LVMH strongly reaffirms that the acquisition of its stake in
Hermès was entirely legitimate and that unlike Hermès, it awaits the outcome
of the AMF enquiry with complete peace of mind. LVMH has no doubt that the
enquiry will determine that the Hermès allegations are false and serve no
other purpose than to slander and unlawfully undermine another firm in the
As a result, the LVMH Group has had no choice but to file a suit for slander,
blackmail and unfair competition.
Michel Calzaroni / Olivier Labesse / Sonia Fellmann / Hugues Schmitt
+ 33 1 40 70 11 89
+ 44 207 920 23 34
+ 44 773 965 54 92
Michele Calcaterra / Valerio Mancino
+39 02 89 05 51 01
Kekst and Company
James Fingeroth / Molly Morse / Dawn Dover / Micheline Tang
+1 212 521 48 00
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