Tapestry-Capri merger blocked by judge in FTC antitrust case

A judge has ruled in favor of the Federal Trade Commission's (FTC) antitrust lawsuit against Tapestry ( TPR ) and Capri Holdings ( CPRI ), blocking the merger of the two luxury fashion brands. Shares of Capri fell more than 50% in extended-hours trading on Thursday.

Julie Hyman and Josh Lipton broke the news on Market Domination Overtime. Tapestry is the parent company of the Coach and Kate Spade brands, while Capri owns Michael Kors and Versace.

Former LVMH North America ( MC.PA ) chair Pauline Brown sat down with Yahoo Finance in September to discuss the FTC's arguments against the two fashion giants.

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This post was written by Luke Carberry Mogan.