UPDATE 1-Paris court cuts eBay fine for trade in LVMH goods

* eBay’s fine reduced to 5.7 mln euros from 38.5 mln

* eBay says ruling is a victory for French consumers

* LVMH says decision confirms earlier court ruling

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PARIS, Sept 3 (BestGrowthStock) – The Paris court of appeals has
significantly reduced the damages that online auction site eBay
(EBAY.O: ) will have to pay French retailer LVMH (LVMH.PA: ) for
allowing users to trade counterfeit goods.

EBay will now pay LVMH 5.7 million euros for allowing its
users to trade fake LVMH goods such as handbags as well as
authentic LVMH products that the retailer prefers to sell in
approved outlets.

In 2008 a lower court in France ordered eBay to pay LVMH
38.5 million euros. Friday’s ruling narrowed the scope of the
judgement from one covering the international trade of goods to
just those traded through eBay’s French site.

Having paid the fine in 2008, eBay will get back roughly 33
million euros.

Both sides claimed victory in the ruling, with eBay noting
the fine had been reduced, and LVMH maintaining the judge had
not overturned the earlier verdict.

French luxury goods maker Hermes has also won a ruling
against eBay but for a lower sum of 20,000 euros.

A spokesman for LVMH declined to comment on whether LVMH had
taken legal action against eBay in other countries.
(Reporting by Cyril Altmeyer; Writing by Nina Sovich; Editing
by Will Waterman)
($1=.7453 Euro)

UPDATE 1-Paris court cuts eBay fine for trade in LVMH goods