New suspects in the “stolen shares” case between Hermès and LVMH

Two Swiss lawyers and a notary have been placed under investigation in connection with the case involving 14 billion euros worth of Hermès shares that an heir claims to have lost to LVMH. The Paris Public Prosecutor’s Office has confirmed the latest developments in the investigation.

6 million shares missing

It all began with a disappearance case: Hermès heir Nicolas Puech is said to have lost no fewer than 6 million shares in the luxury house. Shortly thereafter, it emerged that rival LVMH had quietly built up a 23% stake in Hermès. Much against Hermès’ wishes, as the maker of the Birkin bag had repeatedly turned Bernard Arnault away during previous attempts at rapprochement. A connection was therefore quickly drawn.