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De Beers Diamond Class Action Lawsuit Settlement Update
By Kimberly Mirando
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We reported in December 2011 that a settlement in the De Beers diamond class action lawsuit had been approved, but it appears claimants may have to wait even longer as the challenges and appeals that have plagued the case for years continue to play out.
The De Beers diamond settlement is a huge class action lawsuit that will pay out hundreds of millions of dollars to consumers who purchased loose diamonds or jewelry and jewelry store owners who were affected by an alleged DeBeers monopoly, and who filed claims May 19, 2008. (You can read more about the De Beers diamond class action lawsuit settlement here.)
The Supreme Court’s denial of the first petition means that the previous decision by the Third Circuit Court of Appeals to deny the Class Members’ objections to the De Beers diamond settlement will be reinstated.
No information was given on when the Supreme Court will rule on the second appeal, but payment of claims will likely be delayed until the Court acts on the second, and final (as far as we know,) appeal.
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Updated May 24th, 2012
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78 thoughts onDe Beers Diamond Class Action Lawsuit Settlement Update
Longest class action ever was a case of a plaintiff vs Utah child welfare. Took over 15 years. Statute of limitations apples to the time the cause of action accrues to the filing date of the initial complaint. The judge in the distrct court then sets a trial schedule. Motions are made. Each of which can take up to a year before before obtaining a ruling by the court Then appeals go through a similar process.
It can be a lengthy process
PLEASE!!!!!!!!!!!!!!!!!!!!!!!!This is truly ridiculous. If I owed them $ it would be a different story
I don’t know how much longer they are going to ride this out but I want my money already…..
Come on,this has to be the longest class action I have ever seen go on.What is the statute of limitations ,any ways????
This has to be the longest class action i have ever seen go on.What is the statute of limitations any way??????
I think that this is a big joke it is all about money and who will get the most and wr all know it is going to be the lawyers and the little man which is us gets it up the a–, once again.
Debeers agreed to settle this long ago–they were going to pay this so they could do business in usa.
Greedy people who think they could get a bigger settlement and of course the lawyers racking up legal fees are the real people holding this up.
I too agree the appeal process takes too long. They always wait unless almost the last day then file papers to appeal.
If you were required to pay hundreds of millions of dollars you would want to exhaust your legal rights as well and put off any payments you would be required to make. In time, everything will work itself out and those that qualify will get paid.
I agree, ENOUGH is ENOUGH I want my money!!!!!
I don’t get it, it’s one appeal after another…..when is enough enough??? And, when is the Supreme Court supposed to rule on the second appeal?? 4 years is way too long, quite ridiculous actually and proves what a joke our judicial system is!!!!