US EditionLVMH Battles Billion-Euro Lawsuit: Luxury Leader Denies Claim of Misappropriating Hermès Heir's Shares
6 Articles
6 Articles
Nicolas Puech, heir to the luxury brand Hermès, will go to court to prove his claim that he was defrauded of 14 billion euros by a well-known rich man.
Nicolas Puech estimated that he had been dispossessed of his Hermès titles in the 2000s when LVMH attempted a stock market raid on his rival. He demanded from French justice that the luxury group owned by the Arnault family compensate him, the shares in question now worth more than 14.3 billion euros.
An heir to the French luxury group Hermès, a fifth-generation descendant of fashion designer Thierry Hermès, claims to the French courts the giant of the LVMH sector and his CEO, Bernard Arnault, a compensation of some 14 billion euros because he considers that he has been deprived of his shares in the attempt to take control a fortnight ago. Nicolas Puech, 82, has launched this civil procedure against LVMH and Arnault (76 years), which came to …
Hermès heir Nicolas Puech is suing French conglomerate LVMH and its billionaire chairman Bernard Arnault. Puech claims that up to 6 million shares of the French fashion house he owns were sold without his permission. Reuters reports that Puech is also suing Arnault and LVMH, as well as his former executor, Eric Fremond, and a holding company linked to him. Fremond, however, died last year in Switzerland after being hit by a train. LVMH has denie…
LVMH Battles Billion-Euro Lawsuit: Luxury Leader Denies Claim of Misappropriating Hermès Heir's Shares
read the original version on: www.retailnews.asia Luxury conglomerate LVMH has publicly denied allegations that it illicitly acquired shares now valued in the billions of euros from Hermès heir, Nicolas Puech. LVMH has been named in a lawsuit alongside its CEO, Bernard Arnault, and ex-wealth manager Eric Freymond. The Allegations Puech has claimed that he was wrongfully deprived of Hermès shares, now […] The post LVMH Battles Billion-Euro Lawsui…
Nicolas Poech accused the financial consultant, who died in July, that he had secretly transferred his assets to LVMH, currently estimated at around 14 billion euros.
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