Costco ordered to pay $19.3M for selling "Tiffany" rings

A federal jury told Costco to pay Tiffany and Co. $5.5 million in compensation for selling counterfeit Tiffany diamond engagement rings. (KGO-TV)

There is a new development in the legal battle between Costco and Tiffany's.

A judge ruled yesterday that Costco must pay the jewelry company $19.3 million for selling "Tiffany" engagement rings that weren't made by the jeweler.

Costco had argued it was using "Tiffany" as a generic term to describe a ring's setting.

The store said the rings weren't marked with the Tiffany name, and were not sold in the company's distinct blue boxes or bags.

Costco plans to appeal.

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