Tiffany and Costco Settle Trademark and Counterfeiting Case

Tiffany & Co. and Costco have settled a lawsuit in which Costco was accused of trademark infringement and counterfeiting.

The parties “amicably resolved their dispute,” Costco attorney David Bernstein said in a statement, according to Reuters.

Tiffany had claimed that Costco was touting rings as “Tiffany” when they were not. Costco defended itself by asserting that “Tiffany” is a generic term for a type of setting.

The litigation has been ongoing for eight years.

A federal appeals court in August threw out a ruling that Costco Wholesale Corp. must pay Tiffany & Co. $21 million.

Read more at Reuters