The legal dispute between Hermès and LVMH, which owns 22.6 percent of its shares, has reached new heights. LVMH announced a lawsuit against Hermès one week ago after its new chief executive, Axel Dumas, declared that its incursion into the company's equity was “not desired and not desirable.” LVMH says that it wants to be treated like any other shareholder of Hermès, whose share price has increased 40 times over since it went public 30 years ago. In an eight-hour hearing held on May 31, the watchdog of the French stock market released a report indicating that LVMH had carefully planned its gradual accumulation of Hermès shares since 2001 through equity swaps and in other ways without informing the public until October 2010. It requested a penalty of up to €10 million. LVMH has asked the authorities examining the case to declare the procedure null and void.