On Friday, French newspaper Le Monde reported that France’s National Financial Prosecutor’s Office opened an investigation in April into alleged illegal practices by Lagardere, saying that an investigating judge has been appointed subsequently. Following up on allegations by dissident investor Amber Capital in February, the investigation is said to focus on “misuse of corporate assets, purchase of votes, inaccurate accounts and dissemination of false or misleading information” related to the battle for control of Lagardere. Subsequent to the initiation of the investigation, in late April, Arnaud Lagardere and the principal shareholders in the company reached an agreement to restructure the […]
