LVMH Moët Hennessy Louis Vuitton SE sued Tiffany & Co over their soured merger deal, saying the U.S. jeweler’s business has been so deeply damaged during the pandemic that their takeover agreement is invalidated.
The lawsuit, filed Monday in Delaware Chancery Court, counters a lawsuit that Tiffany filed this month against LVMH after the French conglomerate—owner of Louis Vuitton, Dior and dozens of other luxury brands—said it was backing out of its $16 billion acquisition of the jeweler.
LVMH’s…
