A French court will rule on Monday on a landmark action against investment bank Morgan Stanley, which market players say could further curtail stock analysts' freedom to make investment recommendations.
Fourteen months after the action was launched by LVMH - which owns brands ranging from Dom Perignon to Guerlain - the Commercial Court in central Paris will give its verdict on whether there was bias in Morgan Stanley's investment research on LVMH shares.

Findings are due to be given verbally in the court at 1300 GMT. Sources close to the case said there had been no attempt by either party to reach an out of court settlement.
Although the findings of the French court cannot serve as a legal precedent under European or US legislation, a ruling against Morgan Stanley could pave the way for similar actions against any market player active in France.
This might mean brokers adopt an excessively cautious stance when publishing research on French companies, said one head of research.
LVMH alleges that Morgan Stanley published incorrect information about its debt position, credit rating and currency exposure, tried to manipulate its stock price, and concealed its banking relations with LVMH's arch rival Gucci.
The bank denies all wrongdoing and has made a counterclaim, alleging damage to its reputation.