Costco owes Tiffany more than $19M for selling phony rings

Costco’s going to have to pay for selling “Tiffany” engagement rings that weren’t made by Tiffany.CNN reports 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.Tiffany said in a statement that the dec