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TIF - LVMH Countersues Tiffany Over Disintegrating Merger Deal
Tiffany & Co.
Like many relationships that turn sour, the engagement of LVMH Moet Hennessy Louis Vuitton(OTC: LVMUY) to Tiffany & Co.(NYSE: TIF) is quickly unraveling and ending up in court.
A day after the jeweler announced it was suing the luxury conglomerate for breaching the merger contract by failing to take the steps necessary to complete the acquisition, LVMH announced it was countersuing, charging Tiffany mismanaged its business during the COVID-19 pandemic.