111

Diamond Class Action Settlement

All persons and entities located in the United States who purchased any Gem Diamond directly from De Beers or De Beers’ Diamond Mining Competitors from September 20, 1997 to March 31, 2006 may be members of the Direct Purchaser Class. All persons and entities located in the United States who purchased any gem diamond, jewelry or other product containing gem diamonds for resale or for private use from January 1, 1994 to March 31, 2006 may be members of the Indirect Purchaser Class. The Plaintiffs and Defendants of the lawsuits have reached a Settlement. If you are one of the Class Members, you are eligible to receive money and other Settlement benefits. Do not leave your money unclaimed.

Diamond Class Action Settlement Guide
From 2001 onwards a few lawsuits were filed against the largest suppliers of diamonds in the world – De Beers S.A. and its associated companies, claiming that they violated antitrust, unfair competition, and consumer-protection laws by monopolizing diamond supplies, conspiring to fix, raise, and manage diamond prices, and disseminating false and misleading advertising. There have not been any trials of the lawsuits, and the Court has not determined who is right or wrong. The Plaintiffs and Defendants agreed to a Settlement on behalf of Class Members.

  • The Settlement provides that the Defendants will pay a total of $295 million for the benefit of Class Members plus up to $7 million for the costs of providing notice of the Settlement terms to the Indirect Purchaser Class.
  • The Settlement prohibits the Defendants from engaging in certain conduct that violates state and federal antitrust laws, and requires the Defendants to submit themselves to the jurisdiction of the court for purposes of enforcing these and other provisions of the Settlement.
  • All persons who do not exclude themselves from the Settlement Classes will release the Defendants from any and all past, introduce and future claims that arise out of or are related to the claims in the Lawsuits.

If you are a qualified Class Member and have submitted the online claim form by May 19, 2008, you should have received the notifications and payments sent to Consumer Claimants in June 2013. If your check is not cashed or deposited within 90 days from the date on the check, it will become null and void.

Initial Distribution checks were mailed to Authorized Reseller Claimants on August 31, 2012. The remaining proceeds of the Reseller Subclass Net Settlement were distributed to the Authorized Reseller Claimants by the Settlement Administrator on March 15, 2013. The settlement checks have a void date of June 13, 2013, and the deadline to request your check be reissued is May 23, 2013.

The Consumer Subclass Settlement Fund was divided pro rata among the Consumer Subclass members whose claims were approved for payment. You can see the Consumers Homepage for more information about how payment amounts were calculated. If your claim’s proportionate share of the Net Distribution Fund calculated to an amount that was less than $10.00, you are not eligible for a payment.

Please do not contact the Clerk’s Office or the Court. They will not be able to reaction any questions you may have. Diamond Class Action Settlement information can be accessed at diamondsclassaction.com.

About De Beers
De Beers, established in 1888, is the world’s leading diamond company that predominates the exploration, mining and marketing of diamonds. The De Beers Family of Companies is involved in most parts of the diamond value chain. It employs more than 23,000 people in operations around the world.

Leave a Reply