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Tiffany Accuses LVMH of Trying to 'Run Out the Clock' by Opposing Expedited Trial

Rich Duprey, The Motley Fool
·2-min read
Tiffany Accuses LVMH of Trying to 'Run Out the Clock' by Opposing Expedited Trial
Tiffany Accuses LVMH of Trying to 'Run Out the Clock' by Opposing Expedited Trial

Tiffany & Co. (NYSE: TIF) says LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY) is stalling for time to ensure the deadline for their busted merger expires. The jeweler is suing the fashion house to force it to complete its $16 billion acquisition, but says LVMH is opposing a quick trial because it wants the Nov. 24 deadline to pass, after which it won't have to close on the purchase. In a statement yesterday, Tiffany chairman Roger Farah said, "If LVMH were confident in its legal position, it would have no reason to oppose an expedited trial schedule."