Prosecutors To Probe Hermes' LVMH Insider Trading Claims

Law360, New York (October 12, 2012, 7:22 PM EDT) -- Paris prosecutors have launched a preliminary investigation into insider trading and share manipulation accusations by luxury goods maker Hermes International SCA against stakeholder LVMH Group, according to a Friday report.

An official at the Paris prosecutor's office said prosecutors were investigating a complaint originally lodged by Hermes in July, according to the Associated Press.

Hermes revealed in September that it filed the complaint against LVMH on July 10, saying it "relates to the terms in which LVMH became a stakeholder in Hermes International."

The revelation followed...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.