Judge Fast-Tracks Tiffany Lawsuit Against LVMH
On Monday, a judge fast-tracked Tiffany & Co.'s (NYSE: TIF) lawsuit against LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY) over the quickly crumbling $16 billion merger agreement between the two, but neither side got all of what they wanted: The judge recommended they negotiate a settlement before the Jan. 5 trial date.
That would seem to bode well for Tiffany, even though the hearing will be held after the merger's Nov. 24 closing date, because LVMH will need to present a good reason for backing out of the merger or potentially face billions of dollars in damages for wrongfully terminating the deal.
Image source: Tiffany & Co.
Source Fool.com