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Article: LVMH alleges Vuitton fraud. (LVMH Moet-Hennessy Louis Vuitton, luxury goods manufacturer; Louis Vuitton S.A., leather goods manufacturer)
- Article from:
- WWD
- Article date:
- December 6, 1989
- Author:
CopyrightCOPYRIGHT 1989 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LVMH ALLEGES VUITTON FRAUD
PARIS - LVMH Louis Vuitton Moet Hennessy has filed a complaint with a French magistrate alleging that the management of its subsidiary, Louis Vuitton SA, is guilty of criminal fraud, the latest round in the long-running battle for control of the leather goods operation.
The complaint is similar to one initiated in November by Jean Sornay, a small shareholder in Louis Vuitton, accusing Henry Racamier, Vuitton's chairman, of misusing company funds. At the time, observers had speculated that Bernard Arnault, LVMH chairman, might file a separate case against the Vuitton board to put further pressure on Racamier, whom Arnault seeks to ...