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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!
Never got anything regarding my 10k worth of jewelry. We moved shortly after claimed so I mailed a letter since they would never rerun my email. Still have never heard back. Saw checks were mailed so I have sent email checking into mine. Hope they have right address or send something. I have receipts for $10k worth of
Jewelry. Was hoping to get at least 1k back but can’t believe I have not gotten anything. Anyone never got any notification at all.
I never received a check from the class action lawsuit. It was just recently that my sister said she received her check. I would like to know if there is a place I can go in case my check was lost or sent to wrong address or is it too late?
Received check and deposited at ATM. Seemed to go through. Checked our online account. Says it was deposited successfully. Hopefully is a done deal! Am holding my breath after the earlier comments about bad checks!
received my $715 today…went to bank of america to cash it…teller’s screen had a message that the check would likely be returned unpaid. I had to deposit it instead with a 9 day hold…WTF???
For those who are still wondering about their status, I have found this contact information to be helpful, but I will admit it has been a while since I have called them. I have emailed them frequently and always received a prompt update as to my status. That email is below.
The phone number for consumer subclass info is (800) 572-3624
The phone number to get a live human voice is (866) 898-5106.
Another phone number that was listed was Tel: (800) 760-5431
In writing:
Diamonds Claim Administrator
P .O. Box 24761
West Palm Beach, FL 33416
By Email:
administrator@diamondsclassaction.com
I hope this helps someone who still has not received his or her check.
I got my$47.73 two days ago. my claim more than $20,000. and submitted with a document. But my friend submitted $5,000. and she got a check $274.47. How do they calculate base on purchase or what.
My husband and I received our checks last week…. 57.89 for me, 112.76 for him (less than originally expected but whatever). Both drawn on Huntington Bank. I deposited them today and am hoping they clear, some of these posts have me nervous.
My claim was for $1,353.61 on over $5,000 of diamond jewelry I could provide receipts for. My claim payment was $72.17. That’s what, 5.5%? That comes out to 1% annual interest, compounded annually, for the five years this class action has been going on.
I received a check for $3854.65 I honestly completely forgot about this suit since it was so long ago that I submitted documents, and I nearly tossed the check away as junk mail! Glad I opened it, I nearly threw away almost $4K!! It wasn’t as much as I thought I’d get, but on the other hand, I forgot about the case, so this was a nice and surprising settlement!
Got Check for $156.16,on the 12 of June, Bank did question me but cash the check. She check it by holding it to the light. Thankful I did received something. Check was dated & sign. Good luck! to those that still waiting.
Checks came from Diamonds Claims Administration,PO Box 2984, Faribault, MN 55021.