'It is up to the Delaware court to determine who is in his right, and not the chairman of Tiffany through the press.'
Firing back at Tiffany & Co.’s quest to expedite court proceedings over LVMH’s $16.2 deal to buy the American jewelry, LVMH said Thursday “there is no objective reason why the upcoming trial should not take place within a normal time frame.”
Tiffany on Wednesday accused LMVH of opposing its efforts to hold an expedited trial, preferring the court to hold off for six or seven months. “The next Tiffany results will only confirm the occurrence of a ‘material adverse effect’ and the mediocrity of their management during the crisis, which mainly consisted in creating losses and increasing debts to the detriment of the company’s interest.”
“Tiffany clearly fears a serene and fair rendering of justice. LVMH, for its part, has full confidence in the American justice system to demonstrate that the conditions necessary for the acquisition of Tiffany are no longer met and that the fallacious arguments put forth by Tiffany are unfounded.” The course toward a potential trial in civil suits includes a number of early built-in pressure valves meant to get the suit resolved or dismissed without a trial, if possible. For instance, defendants can attempt to dismiss the suit by arguing that the claims lack legal grounds. If the suit crosses that point, the parties can seek information from one another in the form of documents and deposition — a process known as discovery — and seek a ruling in their favor.
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