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De Beers Diamond Settlement Update: Distribution of Consumer Payments Approved
By Mike Holter
UPDATE 6/7/13: De Beers Diamond Consumer Settlement Checks Go Out!
CORRECTION 5/21/13: The order submitted to the court on April 9, 2013 was a proposed order. Judge Chesler did not sign off on the distribution of consumer settlement checks until May 13, 2013. Read more here.
A New Jersey federal judge has authorized distribution of the $295 million De Beers class action settlement to consumers who filed valid claims, according to court documents filed yesterday.
In his April 9 order, U.S. District Judge Stanley R. Chesler said all claims filed by Consumer Subclass Members after the claims filing deadline of May 19, 2008, but on or before March 1, 2013, will be accepted and eligible for payment, provided their claims are approved.
Judge Chesler also approved the administrative recommendations of the claims administrator, Rust Consulting, concerning the rejection of deficient and ineligible claims, finding Rust offered claimants “reasonable notice of claim deficiencies and an opportunity to cure them.”
The current net balance of the De Beers Consumer Subclass Settlement Fund is just under $107.9 million, after Judge Chesler’s approved payments to the settlement administrator.
Chesler also approved Rust’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.”
The De Beers Diamond Class Action Lawsuit Settlement 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
112 thoughts onDe Beers Diamond Settlement Update: Distribution of Consumer Payments Approved
MY CHECK CAME TODAY. CLAIM WAS FOR $3000. I GOT $37.33. I’M HAPP TO GET THAT AND GLAD IT’S OVER.
Oh boy, got the big payoff, spent around $3500 and got a whopping
check for $51.92. Someone made out like the thieves that they are,
Yeah, I’m talking about the lawyers and the administrators and the
little guy gets f**ked again!!!
Received my check today. $118. and change. What a rip off. Someone made money over this, was not the person who spent 6k on diamonds. Someone should be ashamed. Greed has taken over. We expected a whole lot more. The customer should have gotten the lions share, not the scrap.
My check arrived in the mail yesterday for $138.82. I will never understand why the retailers charged us the inflated price, then were able to collect the lion’s share of the settlement. It must be nice to get paid twice.
im in nor cal
HEY! JEFF I’M STILL WAITING ON MY CHECK TO. I’M IN CALIFORNIA. ANY ONE KNOWS HOW LONG IT TAKES FOR A CHECK TO GET TO CALIFORNIA.
$4200. im a happy camper
I did not get anything yet. Anyone else still waiting? I did not get anything stating, my claim was invalid, so I assumed; all was good.
Since I live in a very rural area of lower So Cal, dirt roads, no county maintained roads and only a PO Box miles away, I will probably spend more in gas actually going to check my mail then the check is written for LMAO!
HAHAHA!!!!!!
just got my check!!!!
WOW!!!!
bought $135,000 of diamonds in the period in question!!!
got $3100 back!!!
2.3% !!!!!
how exciting!!
consumer screwed again as usual!!
anyone see what the lawyers and the direct purchasers got??
a lot more.
what is wrong with this picture??
status quo for the consumer. FUBAR!