Headlines

Tiffany, Costco Settle 8-Year Lawsuit Over Counterfeit Rings

Resolution reached after jewelry maker’s $21 million judgment was thrown out by appeals court

Published

3 years ago

July 26, 2021

VMSD Staff

Tiffany, Costco Settle 8-Year Lawsuit Over Counterfeit Rings

Tiffany & Co. and Costco have settled a long-running dispute in which the fine jewelry maker sued the warehouse chain and accused it of selling generic diamond engagement rings bearing the “Tiffany” name, Yahoo Finance reports.

The settlement comes after a New York appeals court threw out a $21 million judgment that Tiffany won in 2017 following a jury trial. The court ruled that Costco was acting in good faith and that customers were smart enough to realize Tiffany didn’t make the retailer’s “Tiffany” rings.

The suit, which alleged trademark infringement and counterfeiting, was initially filed on Valentine’s Day of 2013 and has now been “amicably resolved,” a Costco lawyer told the outlet. Settlement terms were not disclosed.

Read more at Yahoo Finance.

VMSD Staff

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