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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
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1,230 thoughts onUpdate: DeBeers Diamond Settlement Checks for Consumers Close
John F Zullo, please check back when you determine why your check returned. Kay reported a returned check but it turned out not to be insufficient funds, it was a problem with her own bank’s handling of the check. I have not seen or heard evidence of insufficient funds, and my own check cleared immediately. I hope you are able to quickly resolve the matter for yourself. Good luck.
jh i had same problem email coming back and no answer calls. Rust got 18,000 to help settle claims but i think they just said thats enough for our troubles–adios
GREAT!!! I finally got my long awaited check.
IT BOUNCED!!! Unfortunatly, I wrote 4 small checks after that, and they all bounced.
What a big mess.
I’ll bet you millions that the lawyers check for their share cleared.
Does anyone what to bet?????
Good luck to anyone who receives their check
Be good….
It looks like my check has cleared. It seems there was a problem with MY bank. Not sure what they did, but all appears well for now. My friend is the manager and she told me what she thinks happened and it was their fault, not the fault of the bank where the check was drawn on. I wanted to clarify this for everyone.
It came as a pleasant surprise today! :)
no check, called and confirmed address. Haven’t moved. TRIED to send an email to administrator, which was returned!!! call the 800 # and you cannot get anyone on the phone now, which you could talk to someone as late as last Friday!! All I want to know is how to get the check reissued because it is obviously lost!! or even how much it is!
Jill – My husband endorced the back the check and it was cashed. The check was coming back today in our account and tomorrow I’ll find out why. I have a feeling it’s insufficient funds. And now I have the bank fees to pay for this happening. I was hesitant to even cash the check, and now we’re sorry we did. I should have tossed the check when it arrived.
Andrea- Its always a pleasure to hear from you. You must of had a real nasty azz-boss. I’ve got more from this blog than from Rust. They got my stuff all screwed up. I moved and then they said some items were duplicate and disqualified. Lord help me the few bucks haven’t been worth the aggravation. At least rust made few million $$ for agravating consumers. I got more from the rice crispies settlement and i really thought this one was going to be a decent payday. Hope to hear from you all in future suits.
So, I submitted my claim back in 2008, something came back from the administrator and I had to resubmit…now, I have “duplicate”‘claims. When I saw that people in CA were receiving their checks…and I live in AZ…I decided to follow up. I have sent two emails and made two calls…supposedly my inquiry is being escalated!!! Yeah, we’ll it looks like another “class action” is looming … Personally, I had a clear cut $41,000 dollar claim….still waiting for my inquiry to be ESCALATED…haven’t heard from anyone – email or otherwise,,,
Ro, Sam, Alley, and anyone else I have forgotten……Its going to be sad not talking to you guys anymore. Although bittersweet…Im happy this is all over with. I still don’t understand the payouts and the fraudelent checks scared the heck outa me, but luckily mine was valid.
Ro….yes, thank GOD you didn’t turn out to be my former boss. She was a rotten nightmare. Trust me, I would have verbally raped your existence here if I knew it was she!!! Lol!!!
Anyways…..its been fun and if you look back through some old posts, you might be able to figure out my e-mail addy for future contact. If not….good luck to all and we’ll talk again in the next class action lawsuit!
Re: My post #1201
Just to be clear, I was questioning whether anyone had received notice that their claim was too small to pay. Didn’t want to confuse that with a check that was rejected…mine seems to have cleared without a problem.