Tiffany, Costco Settle Long-Running Dispute

RAPAPORT... Costco Wholesale and Tiffany & Co. have finally laid to rest an eight-year legal dispute over alleged trademark infringement and counterfeiting."The parties have amicably resolved their dispute," Costco's attorney, David Bernstein, told Rapaport News Tuesday. Bernstein declined to provide any further details of the settlement, which was dismissed with prejudice July 19. That means the case is settled permanently and cannot be brought back to court. A spokesperson for Tiffany chose not to comment, as did the jeweler's lawyer, Brendan O'Rourke.Tiffany first filed suit against Costco in February 2013, claiming the wholesaler's use of the word "Tiffany" on its engagement-ring display misled consumers into believing the rings were made by Tiffany & Co. In 2015, the court sided with Tiffany, handing down a $21 million judgment. However, an appeals court overturned that decision in 2020, ruling that "reasonable" customers would realize Costco was describing the rings' setting and was not selling them as Tiffany engagement rings. The case was set to return to court shortly to be decided by a jury.Image: Tiffany & Co. engagement rings. (Shutterstock)