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De Beers Diamond Class Action Lawsuit Settlement Update
By Kimberly Mirando
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.
Updated May 24th, 2012
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78 thoughts onDe Beers Diamond Class Action Lawsuit Settlement Update
you can call 1-800-572-3624 to get answers about your claim.
James the recording thru the 800 number does not state any monies being sent out.
Had ring with purchased diamond and wife’s necklace solitaire on claim, total just over $10,000. Rec’d check today $1,942. Not sure how they came up with that amount to be honest with you, but better than a poke in the eye.
Why do you think they are close to issung checks? Won’t it get appealed again?
Nobody got any check from this settlement. Cut the bs Bill
I called the 800# they said no checks have been issued as of 4/23 , maybe there is another lawsuit we don’t know about ! Well I’m not holding my breath!
Anyone else got a check?
Got my check last Saturday. Paid 45K for diamond. Check was for $9,876.
The amount of money the consumer will receive will be little if any. Don’t hold your breath for a large payout. This was published nationwide, and many people applied. Most likely the “under $10.00 class” will be the majority, and payouts will be few.
If DeBeers had to pay interest on the money they “owe”, it would speed things up considerably. Instead, the attorney “fees” will continue to whittle away at the lump sum until there is little left to divide among the rightful recipients.