Hermes Investors Appealing Family LVMH Defense Waiver

Minority investors in Hermes International SCA are appealing a French regulator’s decision to let the luxury-goods maker’s founding family form a holding company for their stake without bidding for the remaining shares.

Institutional and individual investors in the U.S., Switzerland and Belgium “will file an appeal to annul the AMF’s decision,” Colette Neuville, president of French minority shareholder activist group Adam, said today in a phone interview, referring to the Autorite des Marches Financiers. A Paris court will hear the appeal.