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Update: De Beers Diamond Settlement Checks for Consumers Close
By Sarah Pierce
Top Class Actions just received an exclusive update on the De Beers Diamond class action lawsuit settlement, which is still awaiting payouts to the Direct Purchaser Class (consumers). According to our inside source:
“The official update is that we are preparing an affidavit to be filed with the court pertaining to the distribution [of consumer checks], and once the court approves, distributions will be made. We cannot provide a specific time frame for this to occur.”
Indirect Purchasers (dealers) were given the green light to receive their De Beers Diamond settlement checks in August. And according to a September article on JCK Online, they’re “surprisingly happy” with their De Beers class action settlement checks.
Many of the dealers received five or six figures, reports the article. According to one New York City diamond dealer: “I was among those who was asking, ‘Was it worth the effort to file a claim?’ But it was definitely worthwhile. I almost had to take a second look. I thought, ‘It’s got to be a mistake, I should take it to the bank fast and cash it.’”
Many of these dealers will also receive a second check, as the class action lawsuit settlement agreement was to distribute 85 percent of the settlement fund in one wave, and distribute the remaining funds in a second wave. This excludes Class Members where the second amount totals $25 or less.
There’s no telling when the De Beers diamond settlement checks will be mailed to the consumer class, but it may be at least two months since they’re still preparing the affidavit. Once a date is confirmed, we’ll pass it on.
Keep checking Top Class Actions for the latest updates on the De Beers diamond class action lawsuit settlement, or have these updates delivered to your inbox by signing up for our free weekly newsletter.
Updated December 6th, 2012
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
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1,230 thoughts onUpdate: DeBeers Diamond Settlement Checks for Consumers Close
I filed a claim in this settlement, but it’s been so long I had forgotten about it. I never received anything. No kind of information or anything. My address hasn’t changed and my phone number is also the same. So what happened ? Is the case over or what? Whats the next step?
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Bear in mind the importance however, as this is the key step which puts money back into your pocket.
One word for the GREEDY attorneys that filed appeal after appeal to eat up the settlement pool, after DEBEERS agreed to the settlement.
KARMA…. you guys screwed all of us, so may KARMA be with you!
This is fine as long as you are not one of the many consumers in the settlement. Rust Consulting was supposed to issue checks to us also.
In 2009 I notified Rust Consulting that our address was annexed by a city. I have the email in which I actually replied and recieved confirmation, with my claim number that my check would be mailed to the corrected address. This was back in 2009. They still mailed my check to the incorrect address, they would not accept the emails as verification I have not received payment. Had to write letter this was back in June, in the Rust system they show my notification was recieved on 6/30/2013, my snail mail letter I reluctantly sent. I was told it would be 2-4 weeks until I recieved my check. Then I called still no check, then 4-6 wks, still no check then 6-8 weeks, still no check, then 8-10 wks, still no check!!! Now they cannot even tell me when my check will be issued. Just who is getting all the interest they are making from holding our funds?????
What about the little guy that is part of this great settlement? What about us???? No one cares, and Rust Consulting is not dealing with the distrubution of these funds fairly at all!!! It makes me think twice of ever being part of one of these again, better to go on your own, that way you at least have an attorney, oh wait I have one, they got a percentage of my settlement, where are they???
My husband told all of our family and friends about the settlement from DeBeers years ago everyone signed up and so did we. Everyone received a check except us. We were wondering why we did not receive a check?
Thank you for your time.
Philip & Linda Hraban
why are some consumers getting second checks and some are not? i know of two people that got another check yesterday
Over five and a half years later (initial claim date of 1/25/08), I finally today received a check for $451 – which I calculated to be 3% of the purchase price of my diamond. I stayed on top of things with a change of address in 2011 and a request to re-issue the check that was sent to my old address. So, am I happy? You bet. It’s money I didn’t have before today, so it’s like Christmas came early.
12 weeks and still no check! I’ve called them 25 times and they keep telling me that my check is still being processed! How many checks are still being processed?? Just think of all the interest they are receiving on money that does not belong to them! Is there anyone else out there that is still waiting for their check?
Elvis has left the building
In addition to what #1227 JH from TX stated on 2013-06-20 13:14
=====
If you did not receive your check you will get another claim# for re-issue of your settlement fund.
You will need to snail mail a letter requesting a re-issue of funds along w/your CORRECT address.
They will supply you w/the address to snail mail your letter. Letter MUST include your new claim#.
Re-issue will take approximately 4-6 weeks.
This is what I had to do (today). My check was returned because my apt# was missing from my address. :(
I live in N.J.
From my understanding, checks were mailed out June 7th.