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Diamonds are forever, but a lawsuit accusing Costco of using Tiffany & Co’s trademark to sell “counterfeit” Tiffany engagement rings is not.
On Monday, after eight years of litigation, Tiffany & Co ended a lawsuit against Costco Wholesale Corp that started on Valentine’s Day in 2013, Yahoo Finance reported.
The company had alleged Costco infringed on its copyright and violated counterfeit laws when it sold generic diamond engagement rings with the name “Tiffany.” Costco argued that “Tiffany” had become a generic term for a type of diamond setting.
In 2017, Tiffany won its case, with a jury finding Costco liable to pay $21 million to the brand, now owned by French luxury goods company LVMH SE.
However, last August, an appeals court threw out the judgement, saying Costco acted in good faith.
The court added that Costco customers were smart enough to know that Tiffany didn’t make the Costco rings.
About 3,349 customers bought “Tiffany” rings at Costco during the Class period, Yahoo Finance reported.
On Monday, lawyers for Tiffany and Costco filed for final dismissal of the case.
Meanwhile, the work is not over for the two company’s legal teams.
Tiffany & Company is facing a class action lawsuit from a visually impaired customer who claims that the luxury jewelry store does not sell gift cards that contain writing in Braille, in violation of the Americans with Disabilities Act.
And Costco is facing a class action lawsuit alleging it gives “inaccurate and misleading threats” in its COBRA insurance notice that scare employees away from gaining the continuation coverage they are entitled to.
Would you have thought a Costco “Tiffany” ring was made by Tiffany & Co? Let us know in the comments!
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5 thoughts on8-Year Battle Over ‘Counterfeit’ Tiffany Rings Sold at Costco Ends
like a fool i actually bought this at costco i cant believe i was that stupid as to believe they would sell rings at costco i have really lost my mind i think please addme to your list and thank you
It is just a joke that anybody would seriously think that Tiffany would devalue their brand and sell through Costco. Their brand and quality is far too valuable to them to consider pissing off their highly net worth customers for a few extra bucks. Anybody who claims otherwise or says they were misled is just an idiot!
Add me PLEASE
I sure did thought , apparently was tricked!! How dare them!!! Bought 2 tiffany rings!!! Shame on them!!!!
Yeah right lmao