Tiffany is fighting back against LVMH, after the conglomerate pulled out of its acquisition deal earlier this month. The luxury jewelry brand filed a lawsuit against LVMH, to which the latter threatened to countersue. Now Tiffany is pushing back, once again.
LVMH filed an opposition in Delaware Chancery Court, against Tiffany's request to expedite the legal proceedings. The French corporation asked the Court to wait in six or seven months for the trial.
“LVMH’s opposition to our motion to expedite is the latest attempt to run out the clock to avoid fulfilling its obligations under the Merger Agreement," Roger Farah, chairman of the Tiffany board of directors, in a statement. "If LVMH were confident in its legal position, it would have no reason to oppose an expedited trial schedule. We urge the Court to hold the trial on a timetable that will enable a decision before the November 24 termination date in the Merger Agreement.”
Tiffany has also asserted that LVMH is "continuing its blatant ongoing efforts to avoid paying the agreed-upon price for Tiffany," and that "LVMH’s behavior forced Tiffany to file its complaint."