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Judge Approves Distribution of De Beers Consumer Class Action Settlement Checks
By Mike Holter
We finally have some good news for members of the De Beers Indirect Purchaser Consumer Subclass – U.S. District Judge Stanley R. Chesler has officially signed an order authorizing the distribution of settlement checks to consumers.
In an order signed May 13, 2013, but filed with the court yesterday, Judge Chesler approved distribution of the De Beers class action settlement fund 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. That means consumers should be expecting settlement checks in the mail soon.
Last month we mistakenly reported that Judge Chesler had signed off on the distribution on April 9, but the document filed was actually a proposed order that he officially signed on Friday.
In addition to approving distribution of the $107.9 million De Beers class action settlement, the order approves the administrative recommendations of the Claims Administrator, Rust Consulting, concerning the rejection of deficient and ineligible claims.
Judge Chesler said Rust offered claimants “reasonable notice of claim deficiencies and an opportunity to cure them.” These deficiencies included, but were not limited to, claims filed without supporting documentation, claims that were missing a signature, and claims that fell below $10.
Rust received and processed 606,044 claims, of which 547,741 claimants were mailed letters advising them their claims were deficient and told they had between 15 and 30 days to respond and cure the deficiencies. In the end, only 551,909 claimants were eligible to receive a distribution from the class action settlement fund, according to court documents.
Even if your claim is rejected, you may be able to talk the administrator into approving your claim if you have good cause. In his order, 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 May 21st, 2013
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
41 thoughts onJudge Approves Distribution of De Beers Consumer Class Action Settlement Checks
NO MAIL IN CAL. YET.
What would be the process if we started another class action against all the “Dealers” who received 6 figures? We shouldn’t have had money taken from the fund to pay Rust, that should have come directly from DeBeers they are the ones that caused this debacle to begin with. Let’s sue DeBeers!!!!
No check in mail. Live in CA.
anybody else still waiting?
FYI, IDK what the formula is that was used but my diamond cost about $7,000 and I got a check for $300
Well, got the check today. To say that I am disappointed is putting it mildly. According to the worksheet and percentages, my husband and I should have received $978.00 combined. What we did receive today for our claims, is a total of $56.37. I can’t believe that I wasted 5 years even thinking about it. Something is VERY WRONG here! I called the number provided and all the the girl on the phone could tell me was the script she had memorized …. go to the website and read appendix B of the long form, go to the website and read appendix B of the long form, go to the website and read appendix B of the long form …… There must be something we can do!
Well, Good news is that I received a check today, according to my paperwork submitted, I was to receive 38.5% which would work out to around $2,500 refund. I received a check in the amount of $101.85. This is a complete joke!
“10. Rust sent 39,888 letters via mail and 18,415 via email, advising claimants their claims were deficient..” That means 58,303 claimants were sent notice of deficiency, not 547,741 claimants….
If the pro rata is 5% of each bracket, then the amount of any claim under 32% on the chart would amount to 1.5 % or less of any claim under 10k so only big ticket diamond buyers of 10k or more would be getting a payout ,because any one under 10 k is getting zike , and I do not know many people that purchased 10k and above rings or diamond Jewelry since the average engagement ring is two months salary and back in the 90’s that cannot amount to alot of 10k and over purchases. It has to be 5% of the original combined overall claim. This whole thing stinks because i hope that that false receipts for diamonds not purchased are not involved.That would mean that only regular Harry Winston and Cartier customers will see a decent check.. Also it would show absolute sufficient evidence of collusion on behalf of our supposed Lawyers and the DeBeers company ,and as we all know it would not make anyone happy with DeBeers, as a consumer. I would love to see a complete list of the Payout addresses and zip codes . What a scam !!!! Under 10k purchases may not be huge but 30 guys buying engagement rings for 7500 adds up to 225k versus the one guy buying a 50k ring !! I may have to push this on Facebook because this is just not fair or right . Who cares about the money at this point and whoever posted the comment about class action against the dealers (RESELLERS) would have a valid claim at this point. They are double dipping ,overcharging the consumer and getting reimbursed at a unfair level. They should just give all the cash to a charity at this point and end it all!!!
If you read the notice, there was a chart with a percentage given for the total purchase price of each diamond item, CONSUMER DIAMOND PRODUCT TABLE
Item
Mixed Stones Jewelry
Mixed Stones Jewelry
Diamonds Only Jewelry
Diamonds Only Jewelry
Diamonds Only Jewelry
Diamonds Only Jewelry
Diamonds Only Jewelry
Loose Diamonds
Purchase Price
Less than $200
$200 or more
Less than $200
$200 – $999
$1,000 – $5,499
$5,500 – $9,999
$10,000 or more
Any and all
Recognized Claim Percentage
6% of the retail price
14.5% of the retail price
10.5% of the retail price
27.5% of the retail price
32% of the retail price
38.5% of the retail price
45% of the retail price
59% of the retail price
https://diamondsclassaction.com/pdfs/Consumer-ResellerNotice.pdf
That WAS how much a claim was supposed to pay; however, that amount is being pro-rata now due tot eh fact of only 107 million to be divided amongst over a billion in claims.