The LVMH Group has announced that it will not appeal the €8 million (approximately 1 billion yen) fine imposed by the French Autorité des Marchés Financiers (AMF) on the Group for breaches of disclosure in relation to its acquisition of Hermès shares in October 2010.

When the AMF made this decision in June of this year, LVMH immediately issued a statement of objection and indicated its intention to appeal to the Paris Court of Appeal for review. The AMF confirmed that LVMH did not violate any shareholding restrictions or rules related to insider trading or market manipulation in its acquisition of Hermès shares.

LVMH cited the time and cost involved in further litigation, as well as the potential impact on its future sound investment in Hermès, as its main reasons for dropping the lawsuit.