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Detailing the Defense: Morgan Stanley Sues LVMH for $11.8 Million

Morgan Stanley countersues LVMH for $11.8 million, citing damages caused by proceedings it considers “abusive.”

Citing another example of how Kent and LVMH allegedly saw eye-to-eye, Morgan Stanley notes that the then-chief executive of Donna Karan, Pino Brusone, agreed with Kent that the LVMH-owned company was having problems. LVMH complained that Kent told the Italian newspaper La Repubblica that “purchases like the Donna Karan brand appear to be integrating badly.” But the investment bank notes that Brusone told the Wall Street Journal Europe a few months earlier that: “We have to suffer in the beginning….[We] will close stores, cut back production and restructure the business.”
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