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."
Source Fool.com
