NEW YORK (CNNMoney) —
Costco’s going to pay for selling “Tiffany” engagement rings that weren’t made by Tiffany.
U.S. District Judge Laura Taylor Swain ruled on Monday that Tiffany is entitled to $11.1 million in trebled profits – triple the loss it incurred from Costco’s actions – plus interest, in addition to $8.25 million in punitive damages. Overall, Costco owes the luxury jewelry retailer more than $19.3 million.
