Tag Archive for 'alert/warning'

Well, “everyone” who bought a diamond jewelry in the past 14 years, that is.

If you bought it here in the U.S. but didn’t buy it from De Beers, you may be qualified for a cash refund (and still keep your diamond) resulted from a class action lawsuit settlement.

Here’s an excerpt from the Arizona Republic:

“De Beers, the world’s largest diamond supplier, recently settled a $295 million class-action lawsuit that charged it unfairly monopolized the diamond trade and fixed prices for years.

Customers who bought a De Beers gem between Jan. 1, 1994, and March 31, 2006, have until May 19 to submit a claim to the settlement’s administrator to get money back.

How much anyone receives in the settlement will depend on the value of diamonds purchased and the number of claims filed.

Under the formula, a consumer who bought a diamond worth $2,000, for example, could get as much as $640.

The class action was born from several lawsuits claiming that De Beers broke antitrust and consumer-protection laws by monopolizing diamond supplies, controlling diamond prices and disseminating false advertising.”

To sum it up, you should file a claim if you meet ALL the requirements below:

• Purchased a diamond between Jan. 1, 1994, and March 31, 2006.
• If it’s a Mixed Stones Jewelry with combined purchase prices of $165 or more OR a Diamonds Only Jewelry with combined purchase prices of $95 or more.
• You can provide proofs such as a receipt, invoice, credit card statement, insurance statement, appraisal, certificate or any other documents showing the diamond’s or the diamond jewelry’s cut, clarity, color, number of carats, authenticity or the person or business from whom the diamond or diamond jewelry was bought.

Here is the same story that appeared on MSN Money.