Anheuser-Busch’s lawsuit against Corona hard seltzer will ‘go down in flames’: Constellation Brands CEO
Constellation Brands (STZ) is taking the gloves off and hitting back at Anheuser-Busch (BUD) after it filed a lawsuit trying to stop the use of the name Corona being used on a new line of hard seltzer. “We believe it’s without merit [the lawsuit]. We filed a motion to dismiss this week. It will probably take a few months for that to get ruled on. But we are totally within our sub-license agreement. This certainly looks like an attempt to damage somebody that is doing a lot of damage in the marketplace by having a lot of success,” Constellation Brands CEO Bill Newlands told Yahoo Finance Live. Added Newlands, “The suggestion they have made is that we are not authorized to use the Corona brand name on a hard seltzer. If you read all the documentation, our view is it is totally without merit and it will go down in flames.”
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