The biggest threat to jewellers like the R.J. Reynolds and Tiffany &Co. comes from the court system.
They’ve lost hundreds of millions of dollars and been sued by other jewellerages.
In many cases, they’ve lost because they weren’t properly insured and because they didn’t take necessary precautions to prevent a lawsuit.
It’s a battle that could end up costing jewellerers millions of their own money.
Jazz and Jewelry Inc. of New York is one of the big three, with a valuation of about $1 billion.
According to the court filings, the company, which also includes JVC, was the victim of an unauthorized sale of jewelry worth millions of US dollars in 2013.
The suit alleges that the jewelry was sold to the jewelry manufacturer and sold at inflated prices.
“A fraudulent sale, resulting in the loss of $1,100,000 of R. J. Reynolds’ jewelry and the loss or breach of the duty to protect the plaintiff’s interests, in violation of Section 16(e)(4) of the Act of April 25, 1892,” the lawsuit states.
“In addition, the plaintiff is injured because it was not informed by R. R. Reynolds that it was selling jewelry that was counterfeit.”
“The plaintiff seeks to recover damages and attorneys’ fees incurred by the RJ Reynolds and the Tiffany &Co,” the suit states.
R.J.’s lawsuit is the first in a string of cases accusing the company of being in the red, and they claim the company is trying to protect itself.
Co., which also owns JVC, is suing the company for $200 million for allegedly making false and misleading statements in an attempt to protect its jewelry and for failing to protect customers against unauthorized sales of the jewelry.
A spokeswoman for the company declined to comment on the suit.
Penny Sparrow, a lawyer with Fisher Phillips who represents the company in its lawsuit against Tiffany &ingCo., said the company will fight it.
She said the jewelry company, like other jewelry manufacturers, is trying hard to make sure that they are taking proper steps to protect their customers and make sure their jewelry is protected.
If a jewelry store doesn’t take those precautions, she said, “it’s going to go down like the Titanic.”
In recent years, Tiffany <c., which is owned by the Rothschild family, has faced a number of lawsuits over the past year.
More recently, the company was forced to recall about 2 million wristbands and jewelry due to counterfeit claims.
Citing data from an analysis by a federal judge, the Wall Street Journal said the RJR group is worth between $2.2 billion and $3.3 billion, based on a valuation from PricewaterhouseCoopers and the Wall St. Journal.
With reporting by Associated Press reporter Sarah Jaffe