AMTD, Owner of L'Officiel and AMTD IDEA Brands, Launches Litigation against Jalou Family for Malicious Falsehood, Defamation, and Consequential Loss and Damage
Rhea-AI Summary
Positive
- None.
Negative
- None.
News Market Reaction – TGE
On the day this news was published, TGE declined 0.69%, reflecting a mild negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $481K from the company's valuation, bringing the market cap to $69M at that time.
Data tracked by StockTitan Argus on the day of publication.
Mr Eymere was a former employee of a subsidiary of the Group, and he was summarily dismissed due to his misconduct and mismanagement. He attempted to file an appeal in the
Moreover, Mr Eymere's recent actions involving misconduct and bad faith have required AMTD to take legal actions, importantly to correct baseless allegations and misstatements in relation to the Group's L'Officiel and AMTD IDEA brands, which have been recently mentioned in certain press and social media publications.
AMTD has already made formal reports to law enforcement authorities in connection with Mr Eymere's present and past misconduct.
AMTD firmly believes that the rule of law and fairness and justice will prevail, and looks forward to correcting and dispelling any slander or defamatory statements which might have been made against it.
On an overall basis, we take the opportunity to highlight certain evident inaccuracies in certain press and social media induced by Mr Eymere and/or the Jalou family:
1) The Duly Completed Acquisition of
2) Since the AMTD's acquisition as a "white knight" investor, L'Officiel has not incurred any debt or engaged in liabilities for business, and L'Officiel nowadays is financially strong with solid equity base
3) The controlling shareholder from which AMTD acquired the business was GEM, not the Jalou family, nor Mr Eymere. The Jalou family was not a controller nor a majority shareholder in L'Officiel at the time of acquisition.
AMTD would also strongly emphasize that it will tirelessly prosecute and continue legal action against any wrongdoers which seek to harm its reputation and breach the law. We are confident that our perseverance and commitment will inevitably bring justice and fairness, without reservations.
About AMTD Group
AMTD Group is a conglomerate with a core business portfolio spanning across media and entertainment, education and training, and premium assets and hospitality sectors.
About AMTD IDEA Group
AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients' diverse and inter-connected business needs and digital requirements across all phases of their life cycles. AMTD IDEA Group is uniquely positioned as an active super connector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as "Twitter") at @AMTDGroup.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in
About The Generation Essentials Group
The Generation Essentials Group (NYSE: TGE; LSE: TGE), jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), is headquartered in
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor"provisions of the
SOURCE AMTD Digital Inc.; AMTD IDEA Group; The Generation Essentials Group