Tiffany & Co. Sues Costco After Engagement Ring Scandal

Luxury jewelry brand Tiffany & Co. is reacting after discovering in November that a Huntington Beach Costco store advertised and sold engagement rings that were promoted as Tiffany products. The high-end label filed a lawsuit on Thursday against the wholesaler, which will allow Tiffany to explore whether Costco sold counterfeit rings or actual Tiffany jewelry that had been repackaged. The brand, who only sells its products at Tiffany & Co. stores, argues that its "name and goodwill" were tarnished from the scandal, and is seeking a permanent injunction and damages.