Bitcoin sets a new all-time high above $6,000 >>> READ MORE

Tiffany Sues Costco Over Counterfeit Rings

It claims the discount retailer deceived customers


Tiffany & CompanySo-called “Tiffany” engagement rings on sale at discount warehouse retailer Costco (NASDAQ:COST) are not real, insists Tiffany & Company (NYSE:TIF).

The iconic jewelry maker is suing the discount chain in a New York federal court, accusing Costco of trademark violation, unfair competition, fraudulent marketing and counterfeiting. The suit claims that Costco deliberately misled it customers into believing the rings were made by Tiffany even though they were not, the Associated Press noted.

Family Wins $63 Million in Motrin Lawsuit
Family Wins $63 Million in Motrin Lawsuit

Tiffany says that it investigated Costco based on a customer tip and found that the retailer had been selling “Tiffany” rings for years, despite the fact that the rings were not made or endorsed by Tiffany.

Shares of Tiffany rose fractionally in Friday morning trading, while Costco slipped slightly.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC