Penalty proposals were released the same day, Louis Vuitton Defence lawyer qiaozhi·tailiye has issued a statement, denying all allegations, call France determination of the authority for the financial markets. He said that the summer of 2010, Hermès shares sharp decline in liquidity, while rising sharply, Louis Vuitton, Hermès convertible derivative converted to common stock. In operation, the Louis Vuitton "totally compliant".
In October 2010, Louis Vuitton announced that overweight Hermes stake to 17.1% in December 2011 and announced that overweight Hermes stake to 22.28%, become the largest single shareholder outside of the Hermès family heir. Hermes openly opposed the LVMH stake in the group, against Louis Vuitton in action "Insider", "conspiracy" and "share price manipulation" and other irregularities.
In accordance with France financial market transactions, a shareholder increases stock ownership over, 5%,, 15%,, 25%,, 50%, and 90% when should notify the enterprise of shareholding and financial market regulators. Due to Louis VuittonFinancial transactions conducted through cash, according to France's financial transactions management rules at the time, and the transaction is closed.Cheap Louis Vuitton sale
Terrier said France 2012 of the financial market authority to modify the provisions of the relevant obligation, requirement for cash transactions must also do the obligation, but the new rules do not apply to the Louis Vuitton financial operations completed in 2010.France media generally agreed that France determination of the authority for the financial markets in fact protect the interests of Hermes, the penalty amount compared with the Louis Vuitton's revenue is not high, but the damage to the reputation and image of the group. ASSDKWRHGHG