(PRESS RELEASE) NEW YORK — Verragio, the leading New York City-based designer of handcrafted diamond engagement rings and wedding rings, announces that on the eve of the court trial, its lawsuit (Case No. is 1:18-cv-10620-GHW) against Walmart and its supplier, K&M Associates, for infringing upon copyrighted designs was settled via mediation.
The engagement ring in question, AFN-5013R-4 (from the Venetian Collection), received its federal copyright registration in 2010 and was featured in several online publications as the ‘Most Popular Engagement Ring on Pinterest’ in 2016. Verragio alleged that Walmart and K&M Associates infringed upon Verragio’s copyrighted engagement ring by manufacturing and selling a replica at Walmart stores, with Verragio quickly filing a suit against them in 2018.
The parties reached a conclusion outside the courtroom, with K&M Associates agreeing to pay an undisclosed amount to Verragio on behalf of itself and Walmart, acknowledging the validity of Verragio’s copyright registration, and agreeing to stop manufacturing and selling the accused ring at Walmart and other stores.
“After an unwavering legal battle, we are pleased to know that our persistence has paid off,” said Barry Verragio, founder and CEO of Verragio. “We will do everything in our power to protect our intellectual property as it’s what makes us unique and distinguishes us from other brands. While it’s flattering to know that our popular design was coveted enough for imitation, we will go to great lengths to defend and safeguard the value of our creations and our brand integrity by eliminating all unauthorized replications of our jewelry from the marketplace to ensure our clients can be proud to wear one of our designs and also confident that we will ensure the value of what will sure to become family heirlooms for future generations.”
Verragio is satisfied with the outcome and is looking forward to continuing to focus its full attention on crafting jewelry that is unlike any other. Verragio seamlessly merges cutting-edge innovation with handcrafted craftsmanship to offer bespoke, customizable jewelry that is as unique and stunning as the individuals who wear them.