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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
we cant find out how to give them our address we movied and don’t know if we got a chece or not
this guy #91 Mike is in every settlement . What a crook. he steals peoples money. he filed sketcher shoes and get 867 settilement money which is un heard of buying shoes for 1700 dollars. Same way here he claims 135000 dollars diamnond purchase and gets 3100 . This guy is a con artist. He is abusing system and taking other peoles share. Hope settlement people find this Mike guy and punish him
Does anyone have any more information about the checks not clearing? I’m going to try to cash mine on the way home from work today. What is our recourse if the checks bounce?
Spent $11,983 and got $198.04. what can I say? It’s money in the bank. After reading about others, I hope it is NOT fraudulant! that would be a double shame eh??
Received check 6/11/2013. Deposited that day. Next day bank called check being returned NSF. WHAT IS GOING ON? ITS A FELONY TO ISSUE BAD CHECKS.
Ya, we received 1/10 of what we were expecting…..what a long cruel joke this has all been. Consumers screwed over again.
Received check today — will run to bank and cash. $200 for a $9,700 dollar purchase…in all fairness, the stone was $8,000 of the ring…so about 2.5% back.
DID ANYONE ElSE GET FRAUDULENT CHECKS??
just deposited my check today l. Bank called back half hour later said it was FRAUDULENT!!!! $550.
CINDY MUST HAVE GOTTEN CHECK FOR $6000. HOPE IT WASN’T $600.WISH I COULD BUY 200,000 IN DIAMONDS