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Why Tiffany Shares Dropped 10% Today

TheMotleyFool

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Why Tiffany Shares Dropped 10% TodayPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png

Shares of Tiffany (NYSE: TIF) were down 10% as of 11 a.m. EDT on Wednesday after the jeweler announced it has filed a lawsuit against European luxury retailer LVMH Moet Hennessy -- Louis Vuitton (OTC: LVMUY).

The dispute involves a previously announced merger agreement; LVMH said it would not be able to meet a Nov. 24 deadline to close the $16 billion acquisition of Tiffany.

Image source: Getty Images.

Source Fool.com

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