DeBeers Settlement, Why It Could Mean Money to YOU!
For many years now the DeBeers Diamond Company has been restricted from doing business directly within the United States due to its monopolistic practices. They have a lawsuit against them for "violations of the antitrust, unfair competition, and consumer protection laws". It is claimed that have monopolized the supply of diamonds, and conspired to fix and artificially raise prices.
This little annoyance and the possibility of jail terms for their officers is hindering their efforts to enter the United States directly and to build retail stores with which to compete directly with the retail jewelers of this country. Pity. Sniff, sob! Poor DeBeers, what are they to do?
Why throw money at it, in the time honored tradition of companies with large wallets. They believe that it is in their best interest to settle with the government and with the consumers, so they have offered to settle with every one before the case goes to trial.
So here's the deal. If you were in the United States between January 1, 1994 and March 31, 2006 and bought diamonds or diamond jewelry, you might have some money coming in the form of a settlement payment.
There is a catch however. The amount is fixed at $295 million dollars and of that only $125,432,500 will go to consumers. The amount will be shared on a pro rata basis, the more you spent, the more you will get, but you must share it equally with EVERYONE else who files. (So don't share this page with anyone who bought diamonds back then or your share will get smaller!) The rest will go to diamond dealers and diamond retailers who bought and sold diamonds at that time. Oh, and lest we forget, long before any of us see any of that money, the LAWYERS must get their due.
Just in case you were starting to realize that your share might be very small, you should also know that if your share is to be less than $10, then you will not receive anything, as the administrative costs will be too high.
You must file by May 19th of this year or you will loose your chance at any payment. You can go to to https://diamondsclassaction.com/index.htm to read all about the settlement and for instructions on how to file a claim. There is a menu item on the left hand side for you to file it online. You will not even need a copy of your invoice initially, but you may need either a copy of your invoice or a statement from your jeweler if he no longer has your invoices.
Good luck!
P.S. If you do get a settlement, I will let you spend your check here for twice the payment amount on any finished or custom made jewelry.
