Swatch says Tiffany to pay it $449 million in damages

Swatch Group (UHR.VX) said a Dutch court has sentenced Tiffany & Co. (TIF) to pay it 402 million Swiss francs ($448.79 million) in damages in a lawsuit following the end of a collaboration between the two groups. The Netherlands Arbitration Institute sentenced Tiffany to pay Swatch damages after it pressed claims against the U.S. jeweler in December 2011, the world’s largest watchmaker said in a statement on Sunday. Swatch said the court had integrally dismissed a counter-claim filed by Tiffany in March 2012. Tiffany could not immediately be reached for comment.

    

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