It also charged that Tiffany's lawsuit in the Court of Chancery of the State of DE was "communicated in a misleading way to shareholders and is defamatory".
French luxury goods group LVMH (MC.PA) said on Thursday it intends to sue United States jewellery chain Tiffany (TIF) for "mismanagement" of the COVID-19 crisis, deepening the messy rift between the two companies that had been due to seal a $16bn (£12.3bn) deal.
The world's biggest luxury group said it "was surprised by the lawsuit filed by Tiffany" against in a DE court, and "considers that this action is totally unfounded", according to a regulatory filing on Thursday.
In a court filing on Wednesday Tiffany said there was no contractual basis for LVMH to honour the request from the French government. Since the deal was announced previous year, the COVID-19 crisis has hit the global luxury market and trade tensions have flared between the U.S. and France.
LVMH has said it plans to file a lawsuit against Tiffany & Co to challenge its management during the pandemic crisis, marking the latest twist in the unraveling of the luxury industry's biggest takeover.
And it "noted that the first-half results and its perspectives for 2020 are very disappointing, and significantly inferior to those of comparable brands of the LVMH group during this period".
On Thursday, LVMH called off the acquisition and Tiffany responded by saying it would take legal action to push the deal through.
That didn't stop LVMH from issuing a press release on September 10 with the headline: "LVMH intends to file a lawsuit against Tiffany as a result of crisis mismanagement".
Led by chairman Bernard Arnault, France's wealthiest man, LVMH also defended itself against Tiffany's accusations that it used delaying tactics, notably with competition authorities in Europe, in seeking the deal's approval.
In response, Tiffany filed a lawsuit to force LVMH to complete a deal. According to the company, it had a change until November 24 to pull out.
LVMH had agreed to pay around US$135 a share for Tiffany, but they traded for around US$122 ahead of the LVMH announcement on Wednesday.