Monday, April 28, 2008

Buy Any Diamond Jewelry between 1/1/94 and 3/31/2006?

If so, you may be entitled to claims from a Diamond Class Action Settlement! It was recently brought to my attention that a class action settlement is now underway for any purchases of diamond jewelry between January 1, 1994 and March 31, 2006. Below is an excerpt from the class action website at: http://www.diamondsclassaction.com You only have until MAY 31st to register a claim, so if you purchased any diamond jewelry during the above period, you should definitely file a claim! In looking at initial numbers I may be getting a nice chunk of money back when the settlement is finalized. Since I didn't know I was being price gouged, a check would be a nice little "econonic stimulus" of my own!

Summary of the Settlement (from diamondsclassaction.com)

De Beers is the largest supplier of rough diamonds in the world. Beginning in 2001, Plaintiffs in several states filed lawsuits against De Beers in state and federal courts alleging that De Beers unlawfully monopolized the supply of diamonds, conspired to fix, raise, and control diamond prices, and issued false and misleading advertising. De Beers denies it violated the law or did anything wrong.

The Settlement Agreement provides that $22.5 Million be distributed to the Direct Purchaser Class, and that $272.5 Million will be distributed to the Indirect Purchaser Class. De Beers also agrees to refrain from engaging in certain conduct that violates federal and state antitrust laws and submit to the jurisdiction of the Court to enforce the Settlement.



For more information go to: http://www.diamondsclassaction.com

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