Hermès also went after LVMH in the French courts, even pursuing criminal charges for insider trading. LVMH countersued, claiming slander and false accusation. CEO Dumas, a sixth-generation Hermès family member, called it "the battle of my generation.. .. Hermès is not for sale, and we are going to fight to stay independent." Tensions escalated last year when France's market regulator, Autorité des Marchés Financiers, fined LVMH $10 million for failing to make timely disclosures. LVMH didn't appeal.