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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!
Hahaha isn’t lying. I know hahaha. B1TCH C*NT who will do anything for free money. Files claims on all class action lawsuits and uses various names and addresses for the claims.
$4200. im a happy camper
So the retailer must of filed my claim, because I never filed. $200 for a 6K diamond, but money I had no idea was coming so what the heck.
Ha ha ha is pulling your leg. He’s just stirring the pot.
My check was for 132.00 and I had claims totaling almost 7,000. Is this right ?
Received my check today $139.46. Long time coming but I’m happy , better than nothing :)
No check yet. Will they send a notice if it was less than $10 to let me know that I’m not getting a check?
Received check for $97.30 on a submitted claim for diamonds of $5,760.26. (no receipts were to be submitted, so I didn’t. Wish now I had.) That figured to be 1.68915% of $5,760.26. I WAS APPALLED TO READ #33 HaHaHa FRAUDULENTLY SUBMITTED A LARGE CLAIM FOR OVER $19,000 IN DIAMONDS HE NEVER EVER PURCHASED. HE STATED HE KNEW HE WOULD NEVER HAVE TO SUBMIT A RECEIPT AS PROOF. HE RECEIVED A HEALTHY CHECK, $473.22. Now THAT was downright wrong!
$1900 claim and I r’cd a whopping $32.55. Barely a tank of gas. Page 2 of the claim form states “for example, if your claim is for one engagement ring that cost $2000, your Recognized Claim Amount is $640, which is the maximum payment that you would receive.”
5 yrs for this? Consumers got the shaft.
yes Betty; but as it has been said; the attorney’s settled in the best interest of the Resellers and themselves, NOT the people who this actually cost money; us consumers. IF they were working in OUR best interest, the attorney’s would have asked for at the very least, 5 billion, so us consumers would get back what we were over-charged. Instead the attorney’s, administrators, Resellers and De Beers are all laughing at us all the way to the bank!