LVMH: counter attack's Tiffany in the courts
(CercleFinance.com) - LVMH has announced its intention to vigorously defend itself against the lawsuit filed by Tiffany in the US, deeming it "totally unfounded", "prepared by Tiffany a long time ago" and "communicated in a misleading way to shareholders".
Pointing out that Tiffany accuses it of not having acted diligently in obtaining administrative authorisations relating to antitrust rules, LVMH considers that this accusation "has no substance and LVMH will demonstrate this to the Delaware Court".
Furthermore, it noted that "the first half results and its (Tiffany's) perspectives for 2020 are very disappointing,"LVMH will be therefore led to challenge the handling of the crisis by Tiffany's management and its Board of Directors".
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Pointing out that Tiffany accuses it of not having acted diligently in obtaining administrative authorisations relating to antitrust rules, LVMH considers that this accusation "has no substance and LVMH will demonstrate this to the Delaware Court".
Furthermore, it noted that "the first half results and its (Tiffany's) perspectives for 2020 are very disappointing,"LVMH will be therefore led to challenge the handling of the crisis by Tiffany's management and its Board of Directors".
Copyright (c) 2020 CercleFinance.com. All rights reserved.