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De Beers Diamond Class Action Lawsuit Settlement Update

By Kimberly Mirando

 

De Beers diamonds
UPDATE: On May 21, the Supreme Court denied the final petition for review. The Settlement Administrator announced shortly after that it will conduct final claim audits and mail checks to Class Members within the next few months!
 
The hotly contested De Beers diamond class action lawsuit moved one step closer to paying out, according to the Jewelers Vigilance Committee, which reports that the U.S. Supreme Court denied a petition for judicial review filed by members of the Indirect Purchaser Class. A second petition for review filed by another member of the Indirect Purchaser Class is still under consideration by the Supreme Court.

We reported in December 2011 that a settlement in the De Beers diamond class action lawsuit had been approved, but it appears claimants may have to wait even longer as the challenges and appeals that have plagued the case for years continue to play out.

The De Beers diamond settlement is a huge class action lawsuit that will pay out hundreds of millions of dollars to consumers who purchased loose diamonds or jewelry and jewelry store owners who were affected by an alleged DeBeers monopoly, and who filed claims May 19, 2008. (You can read more about the De Beers diamond class action lawsuit settlement here.)

The Supreme Court’s denial of the first petition means that the previous decision by the Third Circuit Court of Appeals to deny the Class Members’ objections to the De Beers diamond settlement will be reinstated.

No information was given on when the Supreme Court will rule on the second appeal, but payment of claims will likely be delayed until the Court acts on the second, and final (as far as we know,) appeal.

 

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Updated May 24th, 2012

 

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79 Comments

  • Anonymous April 9, 2012

    I don’t get it, it’s one appeal after another…..when is enough enough??? And, when is the Supreme Court supposed to rule on the second appeal?? 4 years is way too long, quite ridiculous actually and proves what a joke our judicial system is!!!!

  • Anonymous April 9, 2012

    I agree, ENOUGH is ENOUGH I want my money!!!!!

  • Anonymous April 10, 2012

    If you were required to pay hundreds of millions of dollars you would want to exhaust your legal rights as well and put off any payments you would be required to make. In time, everything will work itself out and those that qualify will get paid.

  • Anonymous April 10, 2012

    Debeers agreed to settle this long ago–they were going to pay this so they could do business in usa.

    Greedy people who think they could get a bigger settlement and of course the lawyers racking up legal fees are the real people holding this up.

    I too agree the appeal process takes too long. They always wait unless almost the last day then file papers to appeal.

  • Anonymous April 11, 2012

    Probably payoffs and dishonest judges- always out to screw the consumer

  • Anonymous April 11, 2012

    I think that this is a big joke it is all about money and who will get the most and wr all know it is going to be the lawyers and the little man which is us gets it up the a–, once again.

  • Anonymous April 12, 2012

    This has to be the longest class action i have ever seen go on.What is the statute of limitations any way??????

  • Anonymous April 12, 2012

    Come on,this has to be the longest class action I have ever seen go on.What is the statute of limitations ,any ways????

  • Anonymous April 13, 2012

    I don’t know how much longer they are going to ride this out but I want my money already…..

  • Anonymous April 15, 2012

    PLEASE!!!!!!!!!!!!!!!!!!!!!!!!This is truly ridiculous. If I owed them $ it would be a different story

  • Anonymous April 15, 2012

    Longest class action ever was a case of a plaintiff vs Utah child welfare. Took over 15 years. Statute of limitations apples to the time the cause of action accrues to the filing date of the initial complaint. The judge in the distrct court then sets a trial schedule. Motions are made. Each of which can take up to a year before before obtaining a ruling by the court Then appeals go through a similar process.

    It can be a lengthy process

  • Anonymous April 15, 2012

    If DeBeers had to pay interest on the money they “owe”, it would speed things up considerably. Instead, the attorney “fees” will continue to whittle away at the lump sum until there is little left to divide among the rightful recipients.

  • Anonymous April 19, 2012

    The amount of money the consumer will receive will be little if any. Don’t hold your breath for a large payout. This was published nationwide, and many people applied. Most likely the “under $10.00 class” will be the majority, and payouts will be few.

  • Anonymous April 23, 2012

    Got my check last Saturday. Paid 45K for diamond. Check was for $9,876.

  • Anonymous April 24, 2012

    Anyone else got a check?

  • Anonymous April 24, 2012

    I called the 800# they said no checks have been issued as of 4/23 , maybe there is another lawsuit we don’t know about ! Well I’m not holding my breath!

  • Anonymous April 24, 2012

    Nobody got any check from this settlement. Cut the bs Bill

  • Anonymous April 25, 2012

    Why do you think they are close to issung checks? Won’t it get appealed again?

  • Anonymous April 28, 2012

    Had ring with purchased diamond and wife’s necklace solitaire on claim, total just over $10,000. Rec’d check today $1,942. Not sure how they came up with that amount to be honest with you, but better than a poke in the eye.

  • Anonymous May 1, 2012

    James the recording thru the 800 number does not state any monies being sent out.

  • Anonymous May 2, 2012

    you can call 1-800-572-3624 to get answers about your claim.

  • Anonymous May 3, 2012

    I called the 800-572-3624 and they said they would have a rep call me back, when I hear something from them , then I’ll know its the truth

  • Anonymous May 3, 2012

    I called the 800 number and she said no claims have been paid out yet. She said they don’t have a timeframe for when this will happen. It is still held up in court.

  • Anonymous May 4, 2012

    This is what I was told too, so someone saying they received a check , I’d love to see a photo of it from the settlement lol

  • Anonymous May 5, 2012

    You guys aren’t going to get Jack Sh*t. The only individuals going to make out good here are the attorneys. They will get hundreds of millions and you guys wil get a check for $12.

    Trust me on this one, I am an attorney and KNOW.

  • Anonymous May 7, 2012

    Well Joe to your comment so unless your are one of the attorneys from this case then your not getting Jack Sh*T either lol

  • Anonymous May 8, 2012

    The DeBeers lawsuit was a main topic on all the class action websites and blogs and now no new updates. I think, indicates that no new certs were filed by the May 3rd deadline and it has finally been settled. Surely there has been plenty of time to fully investigate and determine each claim. Makes me curious …who/what is the hold up now?

  • Anonymous May 9, 2012

    Not sure about you guys but I received my check last month. It wasn’t worth the long wait but I’m just glad it’s over.

  • Anonymous May 9, 2012

    Got my check also a couple weeks ago angela. Your correct, nothing but chump change.

  • Anonymous May 9, 2012

    King James and Angela, If you guys are serious; not playing games…… Which I think you are…why do the claim’s contact representatives report “not one check has been issued tod ate.”

  • Anonymous May 10, 2012

    I would assume because more than one check has gone out and not just one check.. I’m serious, I’m not sure about anyone else but I thought it was junk mail at first. It sat on the counter a few days before I went through everything. I had one for myself and one for my spouse. Mine was approx $39 and his was $64

  • Anonymous May 11, 2012

    Angela, Was the envelope that your received your check in clearly marked? What was the returnn address shown? Did it say something like DeBeers Class Action Settlement….etc? Please and thank you!

  • Anonymous May 17, 2012

    Everyone that’s saying they have gotten paid from the Debeers lawsuit is lying. NO ONE AND I WILL REPEAT NO ONE HAS BEEN PAID1

  • Anonymous May 23, 2012

    Stop worrying everyone, I received check for $14.88 yesterday by standard mail. What a joke, this was on 3 claims totaling over $72,000 in diamonds.

    In retrospect, it wasn’t worth my time filling out and copying paperwork for this paltry sum.

    JJ, I GOT PAID, AND I WILL REPEAT I GOT PAID.(chump change though)

  • Anonymous May 24, 2012

    According to Debeers Website… Yesterday the Supreme Court Denied the final appeal…. Now they have to finish reviewing the claims, and the website states checks should be in a “few months”

  • Anonymous June 2, 2012

    Mika. If the Supreme Court just denied the final appeal on May 21st it’s highly unlikely that you could have received any payment on this class action..not.impossible, but unlikely….

  • Anonymous June 2, 2012

    hi chump change and how many claims forms did you do for $72,000 this is not POSSIBLE? no checks has gone out.

  • Anonymous June 5, 2012

    No checks have been sent. I just received an email stating that the administrator received my change of address notification. Does anyone know the number of approved claims by class?

  • Anonymous June 6, 2012

    Today, 06/06, just spoke with the 800# and she assured me that there have been absolutely NO PAYMENTS made. She was able to provide me with my claim# and all of the information regarding my claim including pieces of jewelry that I claimed and the amounts.

  • Anonymous June 9, 2012

    all these people that’s so call been paid i don’t think they are in the class action.this order was handed down may 3,checks should start mid aug. or sept,2012

  • Anonymous June 14, 2012

    Those people that received the checks probably filed a different claim for a different lawsuit

  • Anonymous June 18, 2012

    When all is said and done…more will be said then done. The 300 million will be eaten up by the lawyers etc and we will get NOTHING!

  • Anonymous June 23, 2012

    I sent in a claim in 2008 and redceived a claim number. Was I suppose to do anything else???

  • Anonymous June 23, 2012

    received. Finger hit wrong key

  • Anonymous July 2, 2012

    I spoke to 800# today she verified my claim # and said no consumer checks had gone out yet and had no idea when they would start.

  • Anonymous July 3, 2012

    Just curious as everone else, this should have already been settled. WOW

  • Anonymous July 14, 2012

    we need to stay in touch more here because time is getting close

  • Anonymous August 22, 2012

    So is there really a $640 award limit (per person? per item?), or have people been taking this amount as gospel based on the published example of a $2000 engagement ring bringing $640 at 32% settlement amount?

  • Anonymous August 29, 2012

    per the settlement records, there were about 6500 indirect purchaser claims

  • Anonymous August 31, 2012

    got this today for the admin:
    —– Original Message —–

    At: Aug 31 2012 11:13:22

    If your claim is accepted, your payment amount will be based on several factors, including how much you paid, the quantity and quality of the diamonds you purchased, the amount of money that is available for your Class or Subclass, and how many Class Members file claims. Your Claim Form gives more information describing how your payment will be calculated. Additional details regarding how your payment will be calculated are found in Appendix B of the Long Form Notice.
    There is no way to tell Consumer Subclass Members how much, if any, they will receive from the settlement proceeds before the Claim Administrator has finished processing all consumer claims submitted. When the Claim Administrator receives your claim, it will first calculate the “recognized claim amount” for your purchases by applying a recognized claim percentage to the price(s) you paid for your diamond jewelry or loose diamond. This is done so that the claims of all Consumer Subclass members will be based on the wholesale value of the polished diamonds in the jewelry, and not on the value of the setting (gold, platinum and/or other precious or semi-precious stones) or the retailer’s mark-up. A more complete description of this process can be found in Appendix C to the Class Notice.
    Once all recognized claim amounts have been computed and verified, the distribution to all eligible claimants will be made pro rata. That means that each claimant’s payment will be calculated as a proportion of the total recognized claim amounts of all claims being paid. In the event that the total of the recognized claim amounts for all Consumer Subclass members is high, the actual payout of settlement proceeds to any eligible claimant will be less than the recognized claim amount of the claimant’s total purchases. No claimant will receive more than the total recognized claim amount for all the diamond jewelry or loose diamonds that he/she purchased.
    There is also the possibility that the pro rata computation for some claims will result in payments of under $10.00, which are too small to process because of the administrative cost of distributing checks. Those claimants will not receive any payment.

    Diamonds Claims Administrator

  • Anonymous September 24, 2012

    I spoke by email to the admin. they said checks will be out within 180 days and their is a payment schedule you can view on there website and that I didn’t have any other forms to file.

  • Anonymous September 24, 2012

    What is the payment schedule? I can’t open it.

  • Anonymous September 26, 2012

    Item

    Purchase Price

    Recognized Claim Percentage
    Mixed Stones Jewelry
    Mixed Stones Jewelry
    Diamonds Only Jewelry
    Diamonds Only Jewelry
    Diamonds Only Jewelry
    Diamonds Only Jewelry
    Diamonds Only Jewelry
    Loose Diamonds

    Less than $200
    $200 or more
    Less than $200
    $200 – $999
    $1,000 – $5,499
    $5,500 – $9,999
    $10,000 or more
    Any and All

    6% of the retail price
    14.5% of the retail price
    10.5% of the retail price
    27.5% of the retail price
    32% of the retail price
    38.5% of the retail price
    45% of the retail price
    59% of the retail price
    Read more at http://www.topclassactions.com/lawsuit-settlements/lawsuit-news/1530-de-beers-diamond-class-action-lawsuit-settlement-approved#Lc8E3WH2CoBeO7OO.99

  • Anonymous November 6, 2012

    This B/S has gone on so long, I will never buy a diamond ANYTHING for my wife or anybody else. They are just tying it up in the court system and letting the $$ draw what little interest they can until they finally cry UNCLE! Whatever I recieve, I can guarantee it will not be invested in anything related to Debeers. Yes, that means you retailers are gonna take the hit. I pitty the fool who finds in favor or DeBeers. There are not enough hiding places anymore.
    ENOUGH IS ENOUGH ALREADY. Give us our measly pennance and we will go away. Forgive my spelling. It is way past my bedtime.

  • Anonymous November 9, 2012

    There should be some avenue for those of us in this class to voice our concern on the manner this is being handled. Either the court in NJ or whoever selected this administrator. Poor communication and when you do connect with anyone you get standard boiler plate answers off the web. If it wasn’t for the consumer there wouldn’t even be a DeBeers.

  • Anonymous November 16, 2012

    I think we all should start a protest movement against the sellers of Debeers Diamonds. Lets all go to the largest shopping mall we live near, and protest outside the entrance & exits, starting NOW…. ASAP..11-17-2012 Saturday

  • Anonymous November 21, 2012

    With no updates this means we are not going to get anything this year!!! They should have done administration for the consumer class to the court. Why they keep holding consumer money only makes me believe they are going to wait until after the dealers get their second checks. NO CONSUMER AUDITS ARE GOING ON___IF THEY HAVN’T FIX THEM BY NOW —TOUGH LUCK!!!!! I love how this story in May says couple of months and also that rust has also said it would take couple of months. WE THE PEOPLE DESERVE AN ANSWER !!!!! for the delays!!!

  • Anonymous November 25, 2012

    It would be nice to have some info on the delays. They said couple months it’s going on three–just a brief explanation. Thank you!

  • Anonymous November 30, 2012

    amazing, retailers get theres first, Retailers mark up for easy sake is 30%. You buy a diamond 8 years ago for $6000. there cut is $2000. If debeers illegaly marked up prices 30% that diamond would have cost them
    $2800 and you would have paid $4000, so they would have made $1200. So retailers act made more by inflated prices and now they get paid first? My numbers are off a little but you get the gest of it

  • Anonymous December 1, 2012

    I was hoping that the last day of nov that they would say the checks are going out first week dec. Sorry kids no xmas for me. Rust got money to settle dealers and don’t care about consumers. They are losing their creditability.

  • Anonymous December 7, 2012

    checks are coming jan 1,

  • Anonymous December 7, 2012

    2016 after they mke interest on OUR money and after there done taking their vacations the retailers bought for them

  • Anonymous December 12, 2012

    Eddie who said check where coming out Jan 1 not there web site?

  • Grommet December 31, 2012

    Funny how this all started out as a pleasant little surprise bonus for those of us who had purchased diamond jewelry and were probably satisfied at the price we paid at the time. Since then, it seems to have turned into a group of angry folks demanding what’s theirs, largely because there has been no firm timetable for the goodie distribution. Let’s just be patient and accept whatever might be left for us little people. After all, a year ago we never expected anything.

  • Paul January 16, 2013

    I’ve been following this update for several months. I’ve created an Excel spreadsheet of all the “numbers” (i.e., dollars and claims) that I could find.

    Total settlement: $295,000,000.00 when subdivided into certified classes:
    - Direct Purchaser – $22,500,000.00
    - Indirect Purchaser – $272,500,000.00 when subdivided between Resellers and Consumers:
    – Resellers – $110,806,385.50
    – Consumers – $161,693,614.50

    # Bonafide Resellers Claims: 6,190
    # Bonafide Consumers Claims: (unknown at this time)

    Court authorizes payment Total
    $33,648.17 – Rust for claims administration fees and expenses incurred and outstanding to date
    $92.52 – payment of future claims administration expenses that Rust and class counsel reasonably expect will he incurred in connection with administerinu Reseller Subclass member claims.
    $5,938.04 – payment of accounting/tax return preparation services related to the escrow account holding the Reseller
    $403,994.93 – reimbursement of expenses incurred for Class Counsel

  • a smith February 18, 2013

    I have since moved. How can I find out any information on the settlement ? Is there a 800#, I can called to get information.

  • Double D March 2, 2013

    Why are they calling this website “A Settlement Update Newsletter. UPDATE?? Seriously??. It’s almost been a year since the last “Update” So who is the so-called “Adminstrator” of the consumer class? He’s so damn slow, it appears we will see the Second coming of Jesus Christ berfore we get anything. This is no way to conduct any business. Defrauding the sellers and retail customers both. And tail dragging the payouts.I wish I was still working retail. I would fine jewelery, but never recommend a diamond. Seriously, a Diamond is no longer a girls best friend. If and whenever we do recieve a settlement, you can bet diamonds are not even at the bottom of my list.
    Furthermore, if the settlement amt is not in the ballpark, I intend to start a grassroots protest movement in every mall in America, about DeBeers Fraud and deception, and of course their taildragging of the payouts due us. Join me won’t you. I am looking into getting a website, and of course use my F/B acct so everyone can learn NOT to by diamonds. LOOKs like May 24th, 2014 New conference is in order
    Oh yeah, I will. I love confrontations with MoneyMongers like DeBeers.

  • Double D March 2, 2013

    Spellingsorrections to my previous entrie.Why are they calling this website “A Settlement Update Newsletter. UPDATE?? Seriously??. It’s almost been a year since the last “Update” So who is the so-called “Adminstrator” of the consumer class? He’s so damn slow, it appears we will see the Second coming of Jesus Christ berfore we get monies. This is no way to conduct any business. Defrauding the sellers and retail customers both. And tail dragging the payouts.I wish I was still working retail. I would love working in fine jewelery, but I could never recommend a diamond. Seriously, a Diamond is no longer a girls best friend. If and whenever we do recieve a settlement, you can bet diamonds are not even at the bottom of my list of things to buy
    Furthermore, if the settlement amt is not in the ballpark, I intend to start a grassroots protest movement in every mall in America, informing the public about DeBeers fraud and deception, and of course their taildragging of the payouts due us. Join me won’t you. I am looking into getting a website, and of course use my F/B acct so everyone can learn NOT to by diamonds. LOOKs like May 24th, 2014 New conference is in order
    Oh yeah, you can bet the farm I will. I love confrontations with MoneyMongers like DeBeers.

  • Ei Warren March 12, 2013

    Come on, really I am at the point of not believing consumers will ever get anything!!!

  • Deb March 26, 2013

    I thought I missed out…what a rip…still waiting…for the cows too come home

  • Mike June 10, 2013

    Got my consumer-class check today! Seriously, no kidding. I’ve been waiting since 2007. It’s about 2.5% of what I paid for the diamond, less than expected, but still something. I’ve never posted here, but have been monitoring.

  • Brian June 10, 2013

    I received my check today too. Hard to believe…

  • KA Boehm June 10, 2013

    I got my check today (Houston, TX)…ended up being about 5% of the purchase price of what was claimed.

  • MLeshyn June 11, 2013

    What a joke! After waiting 5 years, I received a rebate of 1.15% of the purchase price. Absurd!

  • josh June 12, 2013

    Got my check today. Claimed $9000 and got a whopping $264 check. Better than nothing, but consumers still got screwed on this one!

  • B. Helm June 19, 2013

    I put in for $68,000 USD
    got check for $260 – what a joke ! ! ! !

  • leftworkearly June 20, 2013

    Received my $715 check, went to Bank of America today to cash it. A message came up on the teller’s screen that said the check would likely will be returned unpaid. I had to deposit it and they put a 9 day hold on the check… WTF???????????

  • Really Thats It June 20, 2013

    Less than 2% of the purchase price. Really?!? If the prices were only inflated 2%, then I would have have worried about it. The fact is that the prices were inflated a lot more, and the increases in taxes from the higher amount was more than this check!

    If we all got 2% of the purchase prices, that means we collectively bought $8B retail in jewelry. The settlement was $300M (3.7% of the $8B). As long as De Beers price fixed to make more than $300M, then they still won.

    Oh, and the lawyers won too.

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