Costco has just been hit with a massive consequence after a judge ruled agains them in a recent case. Customers were shocked to learn of the judge’s ruling against the retail giant that is known for their quality of goods.
The lawsuit claims that Costco mislead customers by selling them engagement rings that were generic, but associated with the famous brand, Tiffany's. Thousands of people could be affected by the allegations.
“The wholesale giant was sued by Tiffany & Co. for selling “Tiffany” rings that actually weren’t even made by the jeweler. Costco had claimed they weren’t using Tiffany’s signature blue boxes or claiming they were made by the well-known jeweler, but rather defining them as Tiffany-styled rings,” according to reports.
A U.S. Federal judge ordered Costco to pay $11.1 million in trebled profits and $8.25 million in damages. Costco has said they plan to appeal the ruling.
What do you think about this? Do you have one of their rings? Let us know in the comments section of our Facebook page! Also, read our new article about the surprising thing Oprah credits as the reason for why she has never married her boyfriend of over 30 years.