FTC case to block Tapestry's purchase of Capri set for Sept. 9

A federal judge has set a Sept. 9 court date for the Federal Trade Commission's case to block Tapestry's (NYSE:TPR) planned $8.5B acquisition of Capri Holdings (NYSE:CPRI).

U.S. District Judge Jennifer Rochon was scheduled to hold a hearing earlier on Monday for a scheduling conference for the case. The preliminary injunction hearing will likely last a week and a half, Rochon said at the hearing, according to a Bloomberg account of the event.

A week ago, the FTC sued to block the combination, saying the deal would eliminate competition between Coach, Kate Spade, and Michael Kors.

Rochon is a US District Judge for the Southern District of New York in Manhattan. She was nominated to her current position in 2021 by President Joe Biden and began her judicial commission in June 2022.

Last Monday the FTC issued an administrative complaint and authorized a lawsuit to block the deal, claiming the combination will eliminate fierce competition between the two companies.