Court throws out Tiffany’s judgment against Costco over fake ‘Tiffany’ rings

Court throws out Tiffany’s judgment against Costco over fake ‘Tiffany’ rings

NEW YORK- A federal appeals court on Monday overturned Tiffany & Co's $21 million judgment against Costco Wholesale Corp COST.O over the warehouse club chain's sale of unbranded diamond engagement rings bearing the "Tiffany" name.In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan said it agreed with Costco that its use of the word "Tiffany" was unlikely to confuse customers, and that Costco was entitled in good faith to describe the style of its rings even if confusion were likely.Tiffany had sued Costco on Valentine's Day in 2013 for trademark infringement, accusing the chain of counterfeiting.Costco countered that "Tiffany" had become a generic term, and that it had removed "Tiffany" from store signage within one week of being contacted by that company.The appeals court returned the