Lagardere denies wrongdoing after Le Monde reports ongoing investigation

Lagardere denies wrongdoing after Le Monde reports ongoing investigation

French media giant Lagardere (LAGA.PA) denied any wrongdoing after daily newspaper Le Monde reported on Friday a judicial investigation into the company was underway to look into potential infractions including false accounting and vote buying.

Le Monde said a judicial investigation had been launched in April, leading to the appointment of a judge on the matter.

“The company acts within the law and will vigorously defend itself against any contrary allegation,” Lagardere said in a short statement on Saturday.

Lagardere has been at odds recently with several shareholders including hedge fund Amber Capital which earlier this year filed a complaint. The dispute has been resolved since.

It is transforming itself into a joint-stock company, unravelling an arcane structure that had caused strife with shareholders.

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