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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
My bank released the funds today (I deposited the check June 12th). I’m so relieved!
i read this and called huntington bank and gave them the check number on the check and they verified it was good.
they said there are individuals somehow getting the info from people who filed and sending out fraudulent checks and this way getting their information when they cash the check, this is why it’s bouncing the fact that it wasn’t directly from huntington bank who is working with the diamonds claim administrator on getting the money out.
oh and if you want to get to a LIVE PERSON you have to choose option 6, wait all the way til the end of the recording and hit star for a person. FYI.
WOW. I was just told my claim was DECLINED stating they mailed me something in 2009 saying I had duplicates and they never heard back from me!! SERIOUSLY. I have called and emailed several times since 2008 and NOTHING….I have already filed a complaint with the attorney general of the state of Texas.
I live in California and have not received my check either. Perhaps they are still sending them out as there 500,000 plus checks to be mailed;
was on hold for 10 minutes, got transferred to a voicemail box and left a lengthy message. Perhaps my next call will be to the Texas state attorney general’s office. This is very sloppy and potentially illegal handling of this settlement. Might not seem worth it for maybe a few hundred bucks, but if I am owed something, I want it!! I will keep trying.
on the phone with rust consulting’s class action administration 800# found on their website asking for info. wish me luck!!! FYI the phone line closes at 4:30 CST LOL as if anyone is answering the phone….
well perhaps we get the TX state attorney general involved?? DON’T MESS WITH TEXAS lol seriously, if I am owed this money and I believe I am, I didn’t get anything saying my claim was denied, then I should be able to get it and not with this much difficulty!
just went on to Rust Consulting’s website and sent them a request with my claim # and told them I couldn’t get in touch with anyone and that their job isn’t done just because the checks went out. Who knows if I will get any answer from them either!!
#1215 I live in Lubbock TX and have not received my check either. Can’t get anyone on the phone and I have sent 2-3 emails with no response. I don’t know if we have any recourse.