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Costco owes Tiffany more than $19 million for selling counterfeit rings
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.