'Lvmh' claims damages of 100 million dollars from 'Morgan Stanley'

Lvmh Group-Moet Hennessy Louis Vuittonis suing Morgan Stanley as the manufacturer of luxury goods maintains that it was 'unfairly treated' by the investment bank in its stock coverage analysis. Lvmh has claimed damages of 100 million dollars. Reported by the Dow Jones agency.

A spokesperson for the company said that Lvmh filed the documents with the court two weeks ago. Morgan Stanley stated that it will present a "strong defense" and confirmed the "integrity" of its report on Lvmh. Paris court sources said that it is not yet known when the case will be heard.

The disagreement between the fashion company and Morgan Stanley dates back to 1999, when the investment bank acted as advisor on the Pinault-Printemps-Redoute counteroffer to Lvmh's on Gucci.

(Source: AP Biscom)