LVMH Asks for Dismissal of Regulator’s Hermès Inquiry

Source: Reuters

PARIS, France — Luxury goods group LVMH on Friday asked for the dismissal of a French market watchdog inquiry into the build-up of its first 17 percent stake in rival Hermès.

“The procedure should be dismissed… There are serious violations to the presumption of innocence, in the impartiality of investigators,” LVMH lawyer George Terrier said at a hearing.

Reporting by Astrid Wendlandt and Pascale Denis; Editing by Christian Plumb