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De Beers Diamond Consumer Settlement Checks Go Out!
By Mike Holter
Great news for consumers in the De Beers diamond class action lawsuit settlement – payments have gone out!
Here’s what the Settlement Administrator had to say in an update posted today:
Notifications and payments were sent to Consumer Claimants in June 2013. The Consumer Subclass Settlement Fund was divided pro rata among the Consumer Subclass members whose claims were approved for payment. Payments were calculated based on several factors, including how much you paid, the quantity and quality of the diamonds you purchased, the amount of money that is available for your Class or Sub-class, and how many Class Members filed claims. The Claim Form provides more information describing how your payment was calculated.
If your claim’s proportionate share of the Net Distribution Fund calculated to an amount that was less than $10.00, a check was not issued in accordance with the Order Approving Distribution of the Indirect Purchaser Consumer Subclass Settlement Fund.
U.S. District Judge Stanley R. Chesler approved distribution of the De Beers diamond class action settlement on May 13, 2013 to consumers who submitted a valid Claim Form by the original deadline of May 19, 2008 and for those who submitted late claims on or before March 1, 2013.
If your claim is rejected, don’t give up hope – Judge Chesler also approved the Settlement Administrator’s recommendation to reserve from the De Beers Consumer Settlement Fund the sum of $18,075 for “future unanticipated contingencies, including for payment claimants who come forward and provide good cause as to why their previously rejected claim should be paid.”
That means you may be able to reverse a rejection if you can show why it should be approved.
Top Class Actions has been reporting on the De Beers Diamond Class Action Lawsuit Settlement for several years now. We look forward to hearing what our readers receive from the long-awaited consumer payouts.
More information on how your payment was calculated can be found at www.DiamondsClassAction.com.
The case is Shawn Sullivan, et al. v. DB Investments Inc., Case No. 04-cv-2819 (SRC), U.S. District Court, New Jersey.
Updated June 7th, 2013
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
108 thoughts onDe Beers Diamond Consumer Settlement Checks Go Out!
Received a check for 146.32 on purchase of 6,028. The diamond was 4,837. It looks like consumers are getting roughly 3% back on what they paid. I’m sure that the attorneys did much better in this class action.
Got my check today. Wasn’t worth the wait, since we were expecting over $800. My check was $57.78.
I just received my check today for 283.26. I purchased the diamond for 8,882.00. I guess it’s better than nothing.
I really don’t think people have received checks yet. It was my understanding they went out Friday, so unless they live very close to where the checks were mailed from, I really think those people are full of bull.
Saw other site where people are receiving checks for about 42 to 75 dollars. (These were on claims of $2,500 to $4,200) Don’t understand how they even received anything back as I was told we only had to show PROOF OF PURCHASE on items over $10,000. How can someone receive money back on an item they just wrote down and did not prove that they bought? How would anyone know they bought anything without receipt, appraisal, etc. Administrator told me they were only interested in items over $10,000 – makes no sense.
so does this mean you get either a notice saying you aren’t getting a check or you get a check? the wording is a little confusing to me
O.k. Thanx d.s.
Not yet but think that they were just mailed out yesterday 6/7. Good luck !
Has anyone recevied a check yet.
Yay! It is about damn time!