The inquiry centers on whether Richemont passed the costs of Trump-era tariffs onto customers through retail price increases, then neglected to issue refunds once those duties were declared unlawful. On February 20, 2026, the Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act were invalid, granting importers the right to seek government refunds for duties paid.

Legal counsel suggests that if Richemont recovers these payments from the federal government while simultaneously keeping the surcharge collected from consumers, the company could be holding a double recovery. The investigation encompasses the entire luxury portfolio, including brands such as Cartier, Van Cleef & Arpels, IWC Schaffhausen, and the e-commerce platforms Net-a-Porter and Yoox. Attorneys are currently seeking information from U.S. customers who purchased products during the period the tariffs were in effect. No formal class action lawsuit has been filed to date, and the firm emphasizes that the investigation is in its preliminary stages.