Just send it back to Leupold and they will fix it for free.
Yep, the good news is, you bought a Leupold. They'll make it right.
Leupold customer service is top notch and I like and use a lot of their products. That being said if the scope fails at the wrong point in time (my Dad had a X III fail-turned out to be the erector spring) while on a hunt in Africa. Having them replace it for free was a non issue at that point.
Not bashing Leupold but in some cases you might not want to trade absolute dependability for customer service. Really nice if you can get both.