Retail customers file lawsuits over tariffs against FedEx and Ray-Bans maker [Yahoo! Finance Canada]
ESSILOR LXTTCA UNSP/ADR (ESLOY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
The federal court lawsuits brought against delivery company FedEx and French eyewear company EssilorLuxottica, which makes Ray-Ban sunglasses, seek to ensure that consumers get a share of any refunds the businesses get. More than 1,000 companies, including large corporations like Revlon and Costco, filed suit in the U.S. Court of International Trade to preserve their right to reimbursement. On Feb. 20, The Supreme Court invalidated tariffs implemented under the International Emergency Economic Powers Act, or IEEPA, worth an estimated $130 billion to $175 billion. A refund process either through the U.S. Court of International Trade or the U.S. Customs and Border Protection is set to be worked out in coming days or months as a bevy of lawsuits and claims work their way through government systems. Companies have been filing lawsuits protectively to ensure they receive refunds. FedEx said in a statement on Thursday that it would return any tariff refund it might get to shippers an
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