NEW YORK (February 15, 2013)--A subsidiary of Tiffany & Co. is suing Costco, claiming the wholesale club operator has been selling engagement rings wrongly labeled "Tiffany" rings.

The high-end jeweler filed suit in U.S. District Court in New York on Thursday, alleging trademark infringement, counterfeiting, unfair competition, injury to business reputation, false advertising and deceptive business practices.

The company says the rings are neither Tiffany rings, nor in any way properly associated with Tiffany.

A representative of Costco Wholesale Corp. in Issaquah, Wash., could not be reached immediately for comment.