Costco's going to pay for selling "Tiffany" engagement rings that weren't made by Tiffany. "This was not a case about counterfeiting in the common understanding of that word -- Costco was not selling imitation Tiffany & Co. rings," it said. Tiffany first filed a complaint against Costco in U.S. District Court in New York in 2013, saying it learned from a customer that Costco was selling "Tiffany" rings. "Unbeknowst to Tiffany, Costco had apparently been selling different styles of rings for many years that it has falsely identified on in-store signage as 'Tiffany,'" the complaint said. Costco argued that it was using "Tiffany" as a generic term to describe a ring's setting.

Source: CNN August 14, 2017 23:25 UTC