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De Beers Diamond Class Action Lawsuit Settlement Approved
By Scott Hardy
The De Beers diamond class action lawsuit has been hotly contested and delayed by challenges, appeals and extensive litigation but it has finally been approved. We received word about this, not from the attorneys working the case, but from Top Class Actions viewer Mary S. who noticed the change on the Settlement Administrator’s website. Remember, you the viewer, help make Top Class Actions what it is by your comments on our lawsuit pages, the claims you submit to settlement administrators, and the lawsuit information you submit to us.
Item |
Purchase Price |
Recognized Claim Percentage |
|
Mixed Stones Jewelry
Mixed Stones Jewelry
Diamonds Only Jewelry
Diamonds Only Jewelry
Diamonds Only Jewelry
Diamonds Only Jewelry
Diamonds Only Jewelry
Loose Diamonds
|
Less than $200
$200 or more
Less than $200
$200 – $999
$1,000 – $5,499
$5,500 – $9,999
$10,000 or more
Any and All
|
6% of the retail price
14.5% of the retail price
10.5% of the retail price
27.5% of the retail price
32% of the retail price
38.5% of the retail price
45% of the retail price
59% of the retail price |
Updated December 22nd, 2011
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
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64 thoughts onDe Beers Diamond Class Action Lawsuit Settlement Approved
Is there any official site for information? The main link looks dead.
How do we email the claims administrator for status updates?
Does anyone know how to notify them of email and mailing address change?
I am still waiting for my check as a customer. Did anyone get some type of confirmation #??? I have the certified mail recpt. This is really getting OLD!!
I emailed the claims administrator the other day and just recieved this in response:
The Claims Administrator is conducting final claim audits. We anticipate that the distribution of settlement funds to other subclasses will take place in early 2013.
Thank you,
Diamonds Claims Administrator
Is the administrator’s web site gone? My browser couldn’t find it. I found an email that supposed went to the administrator. I sent an email about 6 weeks ago and never received a reply. This is absolutely ridiculous. Looks like the attorneys took most of the settlement funds, except for what they sent to resellers. I think we consumers are out in the cold, frankly. This was all a sham to enrich some attorneys, waste court time, and make DeBeers share some of its profits. Those of us who bought overpriced jewelry are left with nothing, although we probably still have the jewelry.
I’ve been following this update for several months. I’ve created an Excel spreadsheet of all the “numbers” (i.e., dollars and claims) that I could find.
Total settlement: $295,000,000.00 when subdivided into certified classes:
– Direct Purchaser – $22,500,000.00
– Indirect Purchaser – $272,500,000.00 when subdivided between Resellers and Consumers:
— Resellers – $110,806,385.50
— Consumers – $161,693,614.50
# Bonafide Resellers Claims: 6,190
# Bonafide Consumers Claims: (unknown at this time)
Court authorizes payment Total
$33,648.17 – Rust for claims administration fees and expenses incurred and outstanding to date
$92.52 – payment of future claims administration expenses that Rust and class counsel reasonably expect will he incurred in connection with administerinu Reseller Subclass member claims.
$5,938.04 – payment of accounting/tax return preparation services related to the escrow account holding the Reseller
$403,994.93 – reimbursement of expenses incurred for Class Counsel
How many appeals are allowed? This has been going on for years. When will payments be issued
I’ve been following this thing for years – all I know is that ‘payments will be made within the next few months.’ Has ANYONE received ANYTHING yet – in the consumer category???? I have been assured by the Administrator that my claim has been filed properly and ‘there is nothing more I am required to do’ to receive my settlement….. ?? Geez!!
http://topclassactions.com/lawsuit-settlements/lawsuit-news/3074-update-debeers-diamond-settlement-checks-for-consumers-close
Here is the update. Not what I wanted to hear.
I have contacted the claims administrator numerous time and get the same generic response. Last Friday I emailed again and said I wanted the name of the person in charge of distributing the funds. I also emailed Lieff Cabraser Heimann, et al and told them I am sick of waiting and not being kept more up to date as to the progress. This is getting beyond riduculous. I have not heard back from the claims administrator or the attorneys. I am on the verge of calling the State Bar and Ethics Office for every firm that was representing the Plaintiff Consumer Class until someone gives us some answers. They all have their cut so they don’t really care about us. I work in the legal field and have worked on numerous class action lawsuits. We never took this long to distribute checks. I personally think they are just dragging their feet. Maybe if everyone started calling the State Bar and Ethics Office and started filing complaints someone will finally give us some answers! The consumers should have been the first to be paid. We are the ones that are hurting the most.