Cartier, a division of Richemont North America Inc., sued Tiffany and Megan Marino, a former “junior manager” at Cartier in New York state court on Monday. According to the suit, Tiffany, which was acquired last year by LVMH Moët Hennessy Louis Vuitton SE, hired Marino to work on its “high jewelry” collection, which includes individually made pieces that range as high as $10 million in price.
Marino downloaded confidential information about Cartier’s own high jewelry business before leaving the company and then passed it to her new colleagues after she joined Tiffany in November, the suit alleges. Cartier claims its investigation into the case has “opened a window into Tiffany’s disturbing culture of misappropriating competitive information.”
A Tiffany spokeswoman said in a statement: “We deny the baseless allegation and will vigorously defend ourselves.” According to the suit, Marino was fired from her new job in February after Cartier informed Tiffany’s legal department about her conduct. But by then, more senior Tiffany executives had already gained “a substantial amount of Cartier’s confidential and trade secret information,” Cartier claims.
This isn’t the first time Cartier has accused a former employee of trying to steal trade secrets for Tiffany. In 2014, it sued a former advertising executive who allegedly tried to get her former assistant to join her Tiffany and bring confidential information with her. That suit settled the following year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Commodities From Gold to Grains Rally as Russia Faces IsolationCommodities from wheat and gold to aluminum rallied in a jittery start to the week, as traders grapple with a fraught geopolitical environment and an array of supply risks triggered by war in Ukraine. Spinning this as good news runs against the already dire situation of our poorest. High grain/maize prices = high profits for farmers and industry = greater unaffordability for the poor. And we also already know that greater demand does not = more jobs any longer...
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Australian Miners Ramp Up Search For Lithium to Meet EV DemandExploration spending by Australian-listed miners hit an eight-year high in the fourth quarter of 2021, driven by the search for new lithium resources to meet surging demand from battery and electric vehicle makers.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Russia’s Ultra-Rich Count Cost of $83 Billion Wealth WipeoutRussia’s billionaires are starting to feel the heat.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: As BP and Shell Exit Russia, These Companies Still Have TiesThe invasion of Ukraine has prompted oil giant BP Plc and Shell Plc to quit Russia in a historic move that will bring billions of dollars of impairments. Now the pressure is building on others to follow suit.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Elon Musk’s SpaceX Satellite Dishes Arrive in Ukraine, Drawing Minister’s ThanksElon Musk fulfilled a promise to get additional SpaceX satellite dishes into Ukraine, drawing thanks from the deputy prime minister who over the weekend had pleaded for the tools to keep internet communication working amid Russia’s invasion. Tears grips my heart knowing how hard I’ve struggled to find a legit platform. I never wanted to do this but I’ll be guilty if I don’t share this good news to people, earnwithCamrinn is the best and her platform I’ve ever known. earnwithCamrinn elonmusk is a hero.
Source: dailymaverick - 🏆 3. / 84 Read more »