LVMH is pushing back against Nicolas Puech's lawsuit claiming more than $15 billion in missing Hermès fortune, arguing the dispute belongs solely between the heir and his late financial adviser. The luxury conglomerate filed a 20-page court submission stating it was unaware of any share misappropriation when secretly acquiring its rival's stock years ago.

Puech's legal action targets LVMH and CEO Bernard Arnault, alleging the company benefited from shares that went missing under Eric Freymond's management before his 2025 death. Paris prosecutors have placed three lawyers under formal investigation, including a former LVMH attorney who worked during the Hermès stake-building period. All defendants maintain their innocence.

The case exposes deep tensions between France's luxury powerhouses, where LVMH's stealthy Hermès accumulation sparked industry backlash. With billions at stake and criminal probes ongoing, the dispute reveals how family fortunes and corporate strategies can collide in ways that reshape entire sectors. Neither side shows signs of backing down.

For investors, this litigation underscores regulatory risks in luxury mergers and the complex web of relationships among European fashion dynasties. The outcome could set precedent for how companies handle disputed assets and shareholder claims.