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De Beers 2008 Class Action Lawsuit 2008-01-15 04:04:21

Got Bling? De Beers Class Action Lawsuit

If you've got some ice, you may have the opportunity to get a little more mileage out of it. De Beers, the company that essentially has a monopoly on the world’s supply of diamonds, has agreed to pay nearly $300 million due to a class-action lawsuit against the company alleging antitrust violations.

Who's eligible to get in on the class action? Your diamonds could have been purchased from any jewelry store in the country between January 1, 1994, and March 31, 2006 and you could be eligible to receive anywhere from 6 percent to 60 percent of the original purchase price. Keep in mind that this relates to diamonds bought in any form and from any location — that means De Beers' competitors.

The filing deadline is May 19, 2008. You can file a claim online and find more information at the settlement's website.


Join The Conversation
enSue enSue 9 years
Belated thanks for this tip. My husband and I are going to look into this since my engagement ring and wedding band were purchased in this timeframe.
chancleta chancleta 9 years
thanks for this tip i'm so going to do it!
angelfromlsu angelfromlsu 9 years diamond studs for me!
krystij krystij 9 years
Ah, how funny, I was just faxing something for my boss (I work for a DC diamond importer) about this lawsuit earlier...
nola45 nola45 9 years
Of course, we all know who the major folks are to profit from this case -- not you and me, but the lawyers! Yea! Class action suits on behalf of the little people are bread and butter for these law firms.
Baby-Girl Baby-Girl 9 years
My diamond studs I bought in 2000 and Lord and Taylor!!!
Lovely_1 Lovely_1 9 years
Hmmm I bought my bf's diamond earrings between that time...
baltimoregal baltimoregal 9 years
It's about time. DeBeers is a monopoly, and a creator of a false monopoly at that. Diamonds are NOT rare. If you are really willing to pay inflated prices for beauty- well, buyer beware.
ggfan ggfan 9 years
I have an engagement and wedding band full of diamonds, plus necklaces and earrings from my ex-husband. I would totally submit for this but if they need me to prove it all the receipts are in his name so I don't think i can after reading the fine print. Also, this seems a little too good to be true, if you bought a diamond anywhere you can get money. I don't know.
JennyJen2 JennyJen2 9 years
Thanks for investigating this and putting up a post!
aimeeb aimeeb 9 years
SkinnyMarie SkinnyMarie 9 years
Doh! My fiance bought mine in Nov of 06. But we went to an independent jeweler. I don't know how much he paid, its none of my business, but I know he didn't get ripped off.
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