Stock Alert: Tiffany Tumbles 10% After Filing Lawsuit Against LVMH

Shares of Tiffany & Co. (TIF) are losing more than 10 percent or $12.54 in Wednesday's morning trade at $109.27 after the luxury jewelry brand filed a lawsuit against French luxury products maker LVMH Mot Hennessy-Louis Vuitton SE (LVMHF.PK, LVMUY.PK) to enforce the merger agreement between the two companies. LVMH said it will not be able to complete the Tiffany acquisition.