Court dismisses EssilorLuxottica’s claims against GrandVision

Following the judgement from the Dutch District Court, EssilorLuxottica has said it is assessing its options, including the possibility of an appeal

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EssilorLuxottica

The Dutch District Court has dismissed demands made by EssilorLuxottica against HAL Holding and GrandVision for disclosure of information into how the latter has managed business during the coronavirus (COVID-19) pandemic.

EssilorLuxottica, which is set to acquire HAL Holding’s stake in GrandVision, announced the launch of legal proceedings in July this year.

The company said it initiated proceedings in order to obtain additional information from GrandVision that would be used to assess the way in which it had managed business during COVID-19.

Acknowledging the court decision, EssilorLuxottica said it is studying the judgement and assessing its options. This includes the possibility of filing an appeal against the judgement.

“The company remains concerned about GrandVision’s behaviour in continuing to deny access to important information related to their handling of the COVID-19 outbreak,” the company continued.

Sharing the court ruling, HAL Holding noted that the court has prohibited measures taken by EssilorLuxottica to secure certain information stored on HAL servers. EssilorLuxottica similarly said that the information and data seized from the premises of GrandVision, “with the express permission of the court”, will remain protected from any change and available for further legal proceedings.

Meanwhile, GrandVision has confirmed that arbitration proceedings initiated against EssilorLuxottica are proceeding “as planned” behind closed doors.

In a statement, the company said it continues to support EssilorLuxottica with the shared objective of gaining regulatory approval to close the acquisition in the 12 to 24 months from the takeover announcement on 31 July 2019.

The takeover is subject to approval by regulatory authorities.

Earlier this summer an investigation by the European Commission into EssilorLuxottica’s acquisition of GrandVision was paused.