September 21, 2016 / 11:01 AM / 3 years ago

Damages trial begins over Costco's sale of counterfeit Tiffany rings

Costco Wholesale Corp told a federal jury on Tuesday that the company owes Tiffany & Co no more than $781,000 for counterfeit versions of the high-end jeweler’s diamond engagement rings in its warehouse stores.

At the outset of a damages trial in Manhattan federal court to determine Costco’s liability for selling rings under the “Tiffany” name, Costco attorney James Dabney of Hughes Hubbard & Reed said Costco determined that about 2,500 rings had been sold that the court has found infringed Tiffany’s trademark.

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