PARIS — The ongoing legal battle between LVMH Moët Hennessy Louis Vuitton and Morgan Stanley continues.
A judge at the Paris Commercial Court Monday said the luxury giant and the investment bank will return to court in two weeks — on Sept. 29 — to set a timetable in the $112 million, or 100 million euro, bias and conflict of interest case LVMH brought against Morgan Stanley last year.
The decision came as LVMH submitted 66 new pieces of evidence and 50 pages of conclusions in response to the defense Morgan Stanley presented to the court in May.
When the two parties meet again in two weeks, the court will decide on a date for Morgan Stanley to present its responses to LVMH’s new conclusions. Pleas should be presented soon thereafter.
The case has dragged on since last October, when LVMH accused the bank’s chief luxury analyst, Claire Kent, of bias and conflict of interest in her equity research on the French group, whose interests span from the Louis Vuitton and Givenchy fashion houses to Hennessy cognac and Veuve Cliquot champagne.
Morgan Stanley, which advises LVMH rival Gucci Group, has denied any bias and has countersued LVMH for $11.2 million, or 10 million euros, for damages caused by the proceedings, which it called “abusive.”