GrandVision To Arbitrate Claims Over EssilorLuxottica Deal

Law360 (July 30, 2020, 9:52 PM EDT) -- GrandVision on Thursday initiated arbitration against Ray-Ban maker EssilorLuxottica, saying it intends to fight accusations that it has breached their multibillion-dollar deal under which the latter company is set to acquire a majority stake in the Dutch optical retailer.

The announcement comes after EssilorLuxottica said earlier this month that it had initiated litigation in the Netherlands to obtain information about the way GrandVision has managed the course of its business during the COVID-19 crisis.

EssilorLuxottica says GrandVision's refusal to turn over the information voluntarily has put it in breach of its obligations under their deal, by which EssilorLuxottica is set to...

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