De Beers Class Action lawsuit

[mpark46]

De Beers, the world’s largest diamond supplier, will pay nearly $300 million to settle an antitrust class action lawsuit. If you or a loved one purchased a diamond ring, individual diamond, or diamond jewelry between January 1, 1994 - March 31, 2006, you could be refunded hundreds of dollars. The diamonds need not have been purchased from De Beers directly, just a jewelry store that sells De Beers diamonds. You also must have your original receipt. The filing deadline is May 19th– for more information, visit the settlement website.

http://www.msnbc.msn.com/id/22601611/

 

[mrssalvo]

https://www.pricescope.com/community/threads/notice-of-class-action-settlement.75297/

 

[whit]

I am about to invest in a diamond and wish to know the opinion of "Those in the Know" of what this will do to diamond prices? Should I wait? Should I ask for a % discount on prices based on the lawsuit?

 

[denverappraiser]

Don’t expect to see more than $20 as a consumer and it may be closer to $2. The settlement allows for a total payment of $135 million to be divided among all consumers who apply. The more members of the class there are the less each member gets. The big winners here, rather like every class action suit, are the attorneys.

Here’s a pretty good site about the whole thing and what to expect. The link at the bottom is to the form to apply for your share if you want to play.

www.diamondsclassaction.com

For consumers, it applies to all purchase from January 1, 1994, through March 31, 2006

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Lynn B]

Date: 1/21/2008 8:00:02 PM
Author: denverappraiser
Don’t expect to see more than $20 as a consumer and it may be closer to $2. The settlement allows for a total payment of $135 million to be divided among all consumers who apply. The more members of the class there are the less each member gets. The big winners here, rather like every class action suit, are the attorneys.

Here’s a pretty good site about the whole thing and what to expect. The link at the bottom is to the form to apply for your share if you want to play.

www.diamondsclassaction.com

For consumers, it applies to all purchase from January 1, 1994, through March 31, 2006

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

Yeah, and if it''s less than $10, they aren''t cutting a check at all!

Oh well, I filed. I figured, why not? I had a couple pretty significant purchases during that time; so for 10 minutes and a stamp I''ll see what happens. I''m not holding my breath, though!