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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!
Live in Milwaukee Area City in WI. Submitted a very large claim, and to date have NO CHECK or NO NOTIFICATION LETTER saying Claim was not approved. Has anyone in WI received a check? Read comments but no one says what STATE they are from. What is the DeBeers Return Address on envelope, so know how far away it is coming from.
FRAUDULENT. Got check for $550 last night for 36,0000… Went to bank and they called me a half hour later to say the check was no good!!!!!! Anyone else with a bad check????
received settlement check but and did some checking online and found the following:
WISN 12 News talked to the Better Business Bureau about what looked like fake checks and how to make sure they’re real.
“It’s got the class-action suit on it. It’s got a contact number that you can reach. There’s a claim administrator named in this check. It’s for a specific dollar amount, and you are not signing up for any other program,” said Randall Hoth with the Better Business Bureau. (WISN channel 12, ABC, Milwaukee, posted June 11, 2013, http://www.wisn.com) Where do I go if the check I received is fake?
I got my check today for $206.44 on my claim of $9,833.70. I submitted my claim February 5, 2008. The check is smaller than original estimations given in 2008, but I am just glad this B.S. is over with. What a lot of paperwork, certified mail payments, and years of waiting and wondering, stealing peace of mind.
Got my check yesterday, 6/11. It amounted to about 1.8 % of my claim amount. Better than nothing.
I received my check yesterday for $40.15 on a claim just shy of $3000. Gonna go catch a royals game next weekend with the money!!
well got my check 600 bucks turned in over 26,000 alittle hard to believe someone got 4200???????? i have the original union trib newspaper when this all started and back in 2008 the lawyers said we would get LOTS back in return. why the retailers got more than us is beyond me. they already got over 300% mark up when they sold to us so we should have got what they go in return. oh well took myself out for dinner n drinks :)
good news I received a check for 102.78 that was better than nothing
i received 2 separate checks today, total submitted 5 yrs ago was: $33,000 which i had to submit proof on anything over $10,000. my rolex alone had 3 carats of high quality diamonds alone.
one claim of which was for $4,900. was not paid on. this was a mix stone and diamond ring.
so in total my two checks totaled $374.48. on a $33,000 claim.
it’s unfortunate that the winners were the lawyers and the resellers.
i understand the formula payout was lowered after they totaled all the claims.
was i expecting a higher payout you betcha, but am grateful that i got something. :)
MY CHECK CAME TODAY. CLAIM WAS FOR $3000. I GOT $37.33 I’M THANKFUL FOR THAT. AND GLAD IT’S OVER.