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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
Andrea–Your silly. The debeers settlement for everyone was settled the very same day. Why dealers had their money sent out before consumers only rust knows for sure. Our checks shouldn’t have been held up this long. Since our payout is taking longer–the settlement administrater wants more money(soaking up our money) Anyone would be foolish to think there is more money than claims. We will get a percent of recongnized claim. This was very muched publized to file claims and i believe there is a large number of people in the consumer class. If the website updates didn’t kept saying payout in couple month for the last 8 months I don’t think people would be gripping. May god bless everyone settlement.(Even you Andrea)
Jeffrey: Were you are apart of the original lawyers deal suing Debeers? Did you fight for the movement? No. You didn’t know anything about it, until you came here. Just liek the rest of us.
Sure…I’d love to have in excess of $5,000 FREE money, that otherwise would have never been issued, but some of these posters here are demanding their payouts, NOW!!!! LOL…..
I can’t remember wher eI saw the post, but someone posting a mention about not enough folks placing claims and there being overages (due to the lack of claims filed)……hence Debeers parties must go back to court to pay out overages.
It ain’t over. To the lady who was almost homeless….Somehow. I’m betting that never happened.
What forum will you feet-stomping people anhialate next when thsi one is over with???
Its like we are at daycae in this forum!!!!!!!!!!
I am due around 7k as a consumer. If I get a 10 dollar check, you better bet I will make a rather large stink about it. Seems to me the DIRECT consumer should have received their checks FIRST!
Sorry –it’s not free money–it’s money that got taken out of your wallet for paying for overpriced diamonds. As for getting a dollar–checks will be $10.00 or more, or nothing at all. This case has been settled for over six months and people still waiting for money should somehow feel blessed? Say a prayer for me. Dealers have had their money for 4 months and we should just sit around and sing song. O M G people !!
I think Rob had the only valid point and is pretty much the only one on this forum not stomping his feet around demanding free money! And Vonda, honey….it’s not the lawyers’ fault you are/were almost homeless……some of you people, I swear!!! Apparently there are other issues being addressed at this time through the courts. IT’S FREE MONEY, PEOPLE!!!
If I get one dollar, that is one more dollar I would not have had if the lawsuit was never filed. So no big deal if I have to wait another year!
I filed a claim with debeers lawsuit the first time I heard about it. since then, I now have two children & yet…. have not receive our share of payment. I assume my children will be in their teens by the time we receive our share! lol
I spent a fortune buying diamond bracelets, diamond rings, sapphire and also emerald necklaces. When will I receive my payout. Please let me know if any further information is needed. Thank you. Juana Barbarita
MY QUESTION IS WHY WASNT THIS AFFIDAVIT ALREADY PREPARED A LONG TIME AGO AND WAITING TO BE SENT.
WHEN THE TIME CAME? WHAT UP WITH THAT?
I hope that the legal and administrative fees for this lawsuit are fairly distributed so that those retailers who received so much pay their share of the legal / administrative fees related to this lawsuit.
They claimed they were auditing since August, they should have been preparing for the affidavit too!!!