Hermes LVMH Group equity cases initially fined 10 million euros

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[Onlylady luxury luxury frontier] French stock market surveillance will propose the LVMH cases against Hermes, LVMH Group, the € 10 million fine imposed to punish its Hermes significant acquisitions. Hermes Equity latest developments in the case The case lasted a long time, LVMH Group, was charged in the period 2001-2010 through the exchange of shares in cash cumulative way to disguise their intentions Hermes shares.
French stock market surveillance will propose the LVMH cases against Hermes, LVMH Group, the € 10 million fine imposed to punish its Hermes significant acquisitions. But last Friday at a hearing held at the headquarters AMF, LVMH Group, has denied any violation of market trading behavior. Hermes LVMH Group equity cases initially fined 10 million euros Hermes Equity latest developments in the case The case lasted a long time, LVMH Group, was charged in the period 2001-2010 through the exchange of shares in cash cumulative way to disguise their intentions Hermes shares. LVMH Group's lawyer Georges Terrier, vice president Pierre Gode and Chief Financial Officer, Mr. Jean-Jacques Guiony have attended the hearings, they passed to refute the existence of any illegal accumulation of Hermes Group, Group share trading behavior to reject hostile takeover Hermes LVMH group exists intentions. AMF Board complaint LVMH Group in June 21, 2010 there is a clear accumulation of actions and initiatives Hermes shares, while members of the company in a telephone conversation, it clearly expressed the plan. Georges Terrier AMF refute this allegation, that it does no substantial evidence, and the allegation is based on speculation. AMF's demand market institutions to sanction a fine of 10 million euros LVMH Group in order to punish such unfair trade practices.
If the penalty amount was established, it will create a new case in France, to establish a more robust mechanism for confidentiality. Pierre Gode has repeatedly said that the acquisition of Hermes shares of LVMH merely opportunistic behavior, the group does not exist any global takeover attempt, the allegation indeed non-existent. Gode ​​said LVMH and Hermes have been approached, and expressed Hermes shares sold hand holding the wishes, which fully shows the sincerity of LVMH. After the end of the hearing, AMF executive committee president Claude Nocquet-Borel announce the final decision will be announced before July 31. As of December 31, 2012, LVMH Hermes Group already held 22.6% of the shares.