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Tiffany and Costco settle eight-year proceeding over fake “Tiffany” ring

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Reuters

Release



July 20, 2021

Tiffany settled proceedings over eight years ago Costco A trademark infringement and counterfeit wholesale company for selling common diamond engagement rings with the name “Tiffany”.

Costco lawyer David Byrne said in an email that the two companies “friendlyly settled the dispute.” –Tiffany & Co. -Facebook: Tiffany & Co.

The settlement on Monday came after Manhattan of the Federal Court of Appeals dismissed the $ 21 million ruling won by Tiffany, which was acquired in January by French luxury company LVMHSE in 2017 after a jury trial in August. It was.

The judge ruled that Costco was responsible for selling the ring in dispute, despite allegations that “Tiffany” became a common term and explained the ring’s protruding setting. As a result, the jury decided only how much Tiffany should recover.

However, the Court of Appeals said Costco acted in good faith and that Costco’s customers were wise enough to understand that Tiffany did not manufacture or approve “Tiffany” rings in the warehouse chain. ..

Court documents showed that an estimated 3,349 customers purchased Tiffany rings at Costco during the proceedings.

Costco lawyer David Byrne said in an email that the two companies “friendlyly settled the dispute.” Tiffany issued a similar statement. The terms of the settlement have not been disclosed.
Tiffany sued Costco on Valentine’s Day 2013 to protect the company’s brand and cashier, which now has a history of 184 years.

The case ended after a law firm change this month. The dismissal filed in federal court in Manhattan has a prejudice that means Tiffany cannot file a proceeding again.

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Tiffany and Costco settle eight-year proceeding over fake “Tiffany” ring

Source link Tiffany and Costco settle eight-year proceeding over fake “Tiffany” ring

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