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Costco Ordered to Pay Tiffany $19M for Misrepresenting Diamond Rings

Costco was ordered to pay jeweler Tiffany more than $19 million for selling generic diamond rings marketed with the Tiffany name. So reports The New York Times.

Costco claimed the rings had a pronged setting typically referred as a "Tiffany setting," but the court ruled some of the display cases did not properly distinguish between an authentic "Tiffany" ring and the style setting.

A federal district judge ruled Tiffany is entitled to $11.1 million in profits for infringing on the jeweler's trademark, in addition to interest, and $8.25 million in punitive damages. Costco is planning an appeal.

Read the full article from The New York Times.

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