DeBeers Diamond Class Action Lawsuit Settlement

Company: DeBeers

Website Link to access the Class Action Lawsuit Settlement and get YOUR Stake: Settlement Administrator

Address to submit paper claim:

Diamonds Settlement Administrator
P.O. Box 9432
Minneapolis, MN 55440-9432

Phone Number for Assistance: 1-800-760-5431 or if you are calling from overseas (612)-359-2002

Details: If you purchased Diamonds or Diamond jewelry from 1/1994 – 3/31/06 you’re eligible for a claim. The amounts vary as to what to expect, you can find what you MAY receive at the notice page. THE AMOUNT COULD BE THOUSANDS. Proof required for claims of more then $10,000 per item.

Purchased From: January 1, 1994 to March 31, 2006

Claims Accepted Until (YOU MUST SUBMIT YOUR CLAIM BY THIS DATE!): May, 19th, 2008

Class Action Lawsuit Settlement Amount(s): $135,432,500 for Consumers, $137,067,500 for Dealers/Jewelers, $22,500,000 to Diamond Brokers

TCA Staff Tidbit: This is the current BIG daddy of consumer lawsuits. Please note, you don’t have to mail in ANY proof of purchase unless you’re claiming your diamond jewelry is worth or purchased more then $10,000. I (Scott) submitted an appraisal of my wife’s engagement and wedding rings along with the claims for the the replacement wedding ring. I should receive thousands. How much are YOU eligible for? Don’t expect a check for a few more months, but expect payment some time in the third quarter. Don’t miss out on this one!

UPDATE 10/16/09: National Jeweler Network states that payments may go out in the Spring. The case and challenges are due to be reviewed by the Court in January. 

UPDATE 6/30/09: The Jewelers Vigilance Committee issued a statement and filed a brief supporting the settlement.
No ETA on when/if it will be paid out…