Paris prosecutor opened a preliminary investigation of the complaint against Hermes LVMH
10/20/2012 15:35
The Paris prosecutor said it has reached a preliminary investigation of the complaint scarf and bag maker Hermes that luxury giant LVMH Moët Hennessy Louis Vuitton opened engaged in insider trading and manipulation of hand when he took to be a competitor.
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The French stock market regulator AMF is already working on 2010 LVMH Acquisition of Hermes stock, but Hermes has also filed a criminal complaint. LVMH has called the allegations baseless and an attempt to defame a competitor.
The prosecutor confirmed Friday he is studying.
LVMH acquired 14.2 percent of Hermes first in October 2010, much to the displeasure clearly Hermes family, the decision referred to "undesirable" and vowed to maintain their independence. LVMH has increased since its stake to 22.3 percent.