Tiffany & Co has ended its greater than 8-year-old lawsuit accusing Costco of trademark infringement and counterfeiting for promoting generic diamond engagement rings bearing the “Tiffany” identify.
Attorneys for the businesses on Monday filed a stipulation dismissing the case with the US District Courtroom in Manhattan.
The dismissal got here after a federal appeals courtroom in August threw out a $21 million judgment that Tiffany, acquired in January by French luxurious items firm LVMH, gained in 2017 following a jury trial.
A trial choose had discovered Costco liable for selling the disputed rings, regardless of its declare that “Tiffany” had develop into a generic time period and described the rings’ pronged setting. That left jurors to determine solely how a lot Tiffany ought to get better.
However the appeals courtroom mentioned Costco acted in good religion, and that Costco clients have been sensible sufficient to appreciate Tiffany didn’t make or endorse the warehouse chain’s “Tiffany” rings.
Tiffany sued Costco on Valentine’s Day in 2013, to guard the now 184-year-old firm’s model and cachet. It ended the case after changing its regulation agency this month.
Neither firm nor their legal professionals instantly responded to requests for remark.
An estimated 3,349 clients purchased Tiffany-set rings at Costco in the course of the interval coated by the lawsuit, courtroom papers confirmed.