Tiffany and Costco settle ring lawsuit after 8 years

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Tiffany & Co. and Costco Wholesale Corp. have finally reached a settlement agreement over the jewelry store’s eight-year lawsuit accusing Costco of trademark infringement and counterfeiting for selling a “Tiffany” ring setting.

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Lawyers for both companies asked for the case to be dismissed in the U.S. District Court in Manhattan on Monday, and David Bernstein, an attorney for Costco, said in an email that the parties have “amicably resolved their dispute.”

Ticker Security Last Change Change %COST COSTCO WHOLESALE CORP. 414.15 +3.78 +0.92%

The issue has been batted around in court for years after first being filed on Valentine’s Day 2013. Tiffany, a 184-year-old firm, was purchased by luxury goods company Moet Hennessy Louis Vuitton SE (LVMH SE) in January. Tiffany switched law firms on the matter a month ago, according to Reuters.

Following a judge’s determination…

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