⁍ The move comes after Tiffany sued LVMH earlier this month, objecting to the Paris-based company’s decision not to go through with the deal they signed in November.

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⁍ In its counterclaims filed in Delaware Chancery Court on Monday, LVMH said the agreement with Tiffany had no carve-out for pandemics.

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⁍ The French company also said Tiffany breached its agreement to operate as usual by paying out the highest possible dividend.

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– LVMH Moet Hennessy Louis Vuitton has fired back at Tiffany & Co. over its refusal to close a deal to buy the jeweler for $16 billion. The French company countersued yesterday, arguing that Tiffany’s financial mismanagement during the H1N1 virus allows it to walk away from the deal, Reuters reports. Tiffany had sued LVMH earlier this month, arguing that LVMH couldn’t close the deal because the French government asked it to delay the transaction. But LVMH says that since Tiffany assumed the risk of a virus outbreak when it signed the agreement, it can’t close the deal under the definition of a “material adverse effect.” Tiffany’s top five executives are in line to receive at least $100 million in total compensation if the deal goes through, according to LVMH’s counterclaims. A US judge last week set a four-day trial on the case beginning Jan. 5. The judge said during a hearing he hoped Tiffany and LVMH could have ‘productive discussions to avoid the need for litigation,’ referring to a potential settlement. The letter that LVMH says prevents it from completing the deal was signed by France’s foreign minister, who said his office had received an inquiry from LVMH, and that it was natural for him to respond with advice. LVMH in its counterclaim said the letter is a mandatory directive to take part in France’s efforts to defend its national interests in a trade dispute with the United States.