Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
Update: De Beers Diamond Settlement Checks for Consumers Close
By Sarah Pierce
Top Class Actions just received an exclusive update on the De Beers Diamond class action lawsuit settlement, which is still awaiting payouts to the Direct Purchaser Class (consumers). According to our inside source:
“The official update is that we are preparing an affidavit to be filed with the court pertaining to the distribution [of consumer checks], and once the court approves, distributions will be made. We cannot provide a specific time frame for this to occur.”
Indirect Purchasers (dealers) were given the green light to receive their De Beers Diamond settlement checks in August. And according to a September article on JCK Online, they’re “surprisingly happy” with their De Beers class action settlement checks.
Many of the dealers received five or six figures, reports the article. According to one New York City diamond dealer: “I was among those who was asking, ‘Was it worth the effort to file a claim?’ But it was definitely worthwhile. I almost had to take a second look. I thought, ‘It’s got to be a mistake, I should take it to the bank fast and cash it.’”
Many of these dealers will also receive a second check, as the class action lawsuit settlement agreement was to distribute 85 percent of the settlement fund in one wave, and distribute the remaining funds in a second wave. This excludes Class Members where the second amount totals $25 or less.
There’s no telling when the De Beers diamond settlement checks will be mailed to the consumer class, but it may be at least two months since they’re still preparing the affidavit. Once a date is confirmed, we’ll pass it on.
Keep checking Top Class Actions for the latest updates on the De Beers diamond class action lawsuit settlement, or have these updates delivered to your inbox by signing up for our free weekly newsletter.
Updated December 6th, 2012
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
Top Class Actions Legal Statement
1,230 thoughts onUpdate: DeBeers Diamond Settlement Checks for Consumers Close
West Coat – I am not the Kay you mentioned. Happily married for almost 40 years here. :)
I am not sure what to do once I get the check back. I emailed the people at diamond class action so maybe I’ll hear from them. Not sure how much I want to do because of the fees.
I will hear more about the check tomorrow and what options are from my banker. If the checks were going to go through, I wish they wouldn’t sent them out.
I guess it could be something else, not sure what, all hubby did was endorse the back and he cashed it. They did say they’d had a lot of these checks so I was surprised to see it kick back.
Kay, if you are the same Kay, reported earlier at posting number 171 that your husband’s name was on the original claim form and you are since divorced. Maybe that has something to do with your issue?
#1167 Andrea If you are referring to “Ro” ..just a short-cut. Plus, thank God, I am not her! She must have been an unhappy, insecue person. Was she your boss in california?
Mike, has left his invite on the table…. Be nice if the status was such so you both could take advantage of it..
I’m smiling at my self….questioning why am I back here….so the visit to this blog….became a habit… Hmmmm!
Have a great life Andrea!
Received our check for almost $500 last week. Went to the bank and cashed it. Found out today that the check is coming back. Don’t know all the details yet (why it’s coming back – closed account, insufficient funds, or whatever). Hubby endorsed the check and we cashed it. Now we have bank fees to deal with because of this.
Tried to call and talk to someone but had no luck. Hopefully, it was just a glitch and it can be run through again, but if not, and it comes back, then we’ll have even more fees to deal with.
I’ve posted here the past couple of months as this class action matter came to resolution. The checks we are receiving from the Claims Administrator via Huntington bank are proving to be good. I immediately cashed mine and had no issues. Unless you did not buy a diamond during the relevant period you are deserving of the check and should cash it. If you did not buy a diamond and someone filed a bogus claim in your name, the check will still be good, but if it is not rightfully yours you would be committing fraud by depositing it and instead you should return it as directed on the note accompanying the check. In essence this is a settlement of a damages claim against the might De Beers corporation, and you are getting less than 10 cents on the dollar for De Beers having damaged you, so it only make sense to cash it if you made an authentic claim.
My husband & I each received checks in the mail this week for different amounts. Not sure why. We thought it was just a scam, but vaguely remembered something about this class action lawsuit from years & years ago. Haven’t cashed the checks yet, but now we’re wondering if we should bother. I don’t want to be charged a fee if they are fraudulent/NSF!!!
just curious, has anyone received a rejection letter?
these not they
if you get a check and your bank teller refuses to deposit/cash it, ask for a supervisor; simple as that as they checks are good…
I received a check the other day, and yet I don’t recall anything about a class action, or submitting a claim. Is this a legitiment check? Should I be wary of cashing it? Thanks!
Becky