Class Action lawsuit against DeBeers...

[sparkle&shine]

I wasn't quite sure where to put this since it could pertain to so many categories (money, fashion & beauty)...

Diamond buyers can get refunds (http://www.azcentral.com/business/articles/0116biz-diamonds0116.html)
De Beers, world's largest supplier, agrees to pay $295 million for controlling market for 14 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.

Customers will need a receipt but won't have to give up any gems.

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

Go to https://diamondsclassaction.com/ for more info!

[Rosebud]

I got this as an email forward but haven't figured out what to do with it yet. If you got your diamonds from a private jeweler, how would you know if they're DeBeers or not?

[jajacobsen]

My exact thoughts! ??????

[ladybug777]

I saw something in a magazine. I think you're susposed to register w/ the lawsuit. It basically said you're eligible if you've bought a diamond from DeBeers or any other retailer of diamonds. I'd assume that includes almost anyone.

[sparkle&shine]

I searched the website and it pretty much seems like *most* diamonds come from them as they don't specify how to tell. I haven't filled out the online claim form since I need to look for my receipts so I haven't gotten too far on the form.

I think unless you really sought out to buy a fair trade or Canadian diamond it is probably a DeBeers.

[MrsBeckyLP]

I am so filing.

(And I find it ironic that now there's a BC diamond ad floating at the top of the screen!)

[honeygirl]

Thanks for posting this, to think we could get hundreds of dollars back. Wonderful!

Has anyone filed yet?

[DragonFly]

This is very interesting. I have a few (mostly smallish) diamond pieces, but I'm not sure we even still have receipts or anything lying around. Isn't nearly every new diamond in the US from De Beers? I thought I heard that once on one of those news magazine shows a few years ago.

[Sha259]

Both DH and I made substantial diamond purchases (for us anyway) between the years of 2001 and 2004 (promise ring, engagement rings, wedding bands) I will definately be looking for those reciepts and filing!

[MrsBeckyLP]

I just filed. I had all my receipts, so it was a piece of cake. It took about five minutes.

[smilewithme]

Oh, you bet we're filing! DH told me about this, but thanks for posting the link. It'll probably be me who is in charge of getting it all together! ;)

[laura]

Fascinating. It never occured to me to keep the receipt from my wedding rings, as we have the appraisal and that is all we need for insurance purposes. I am intrigued to know what the pay-out ends up being, though.

[MsRo]

We have the reciepts for my e-ring and wedding bands. I'll be filing today. :)

[Rancid13]

I just filed for both my engagement and wedding rings. I wasn't asked for any information from the receipts, though I have them. Took all of 45 seconds.

[andrew&shannah]

I just filed for both my engagement and wedding rings. I wasn't asked for any information from the receipts, though I have them. Took all of 45 seconds.

For all of mine, they asked for the purchase price. In addition, any pieces over $10,000 are required to send proof of the cut, color, clarity, etc along with the receipt.

[DaniML]

Thanks for the info! I just filed my claim as well!

[SiValleySteph]

I am intrigued to know what the pay-out ends up being, though.

DH told me the maximum payout was $640 for diamond purchase over $2000. But I didn't read it myself, so I don't know for sure.

I'm starting to really like class action lawsuits. We just got $70 back from 24 hour fitness today and I'm waiting on my $25 or whatever from the international credit card use one. :p

[pride&prejudice]

I'm starting to really like class action lawsuits. We just got $70 back from 24 hour fitness today and I'm waiting on my $25 or whatever from the international credit card use one. :p

DH is supposed to do the one for the international CC use. I'll have to get him to look at this one. I'm with you, I'm liking this.

[Dotsie]

I'll be filing today. We bought 2 engagement rings, 2 wedding bands for me (1st set was stolen) and diamond earrings. We really need the money so I hope it doesn't take forever.

[MidwesternGal]

So Zales and Kay purchases would fit into that, right?



We didn't spend a ton, but hopefully we'd get a few dollars back!

[Kimberland30]

DH told me the maximum payout was $640 for diamond purchase over $2000. But I didn't read it myself, so I don't know for sure.

This info is on one of the screens when you go to the website to file. $640.00 is the maximum, and that all depends on how many people file. Obviously the more that file, the less each individual payout will be.

I'll have to see if I can find our receipts - they are probably in the wedding planning box I have in the attic. I have the appraisal handy (for insurance) but that's about it.

[petdoc08]

Here is LINK (http://www.punny.org/money/bought-a-diamond-in-the-last-14-years-get-tons-of-money-from-class-action-settlement/) to an article that lists the estimated payout scale

[Kimberland30]

Here's also more information about the requirements - not needing receips, how an appraisal will do - etc. (bolding mine)....


You do not need to submit proof of your purchase(s) with your Claim Form. However, you may need to send documents to the Claims Administrator to prove your purchase(s) if the Claims Administrator requests them. Therefore, keep any documents you have that show proof of your purchase(s), 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.

[jnettie]

I got this as an email forward but haven't figured out what to do with it yet. If you got your diamonds from a private jeweler, how would you know if they're DeBeers or not?

I believe it doesn't matter. The suit against DeBeers is for price fixing the market. So, even if you didn't buy from DeBeers at all, you still qualify because they used shady practices to drive up the price of diamonds.

[Tanya]

This info is on one of the screens when you go to the website to file. $640.00 is the maximum, and that all depends on how many people file. Obviously the more that file, the less each individual payout will be.

I'll have to see if I can find our receipts - they are probably in the wedding planning box I have in the attic. I have the appraisal handy (for insurance) but that's about it.

Actually, that's not the max, that's just an example they used for the case where the number of people that file is so low, you cannot receive more than the amount in the following table found on p. 11 here (https://diamondsclassaction.com/pdfs/Consumer-ResellerNotice.pdf#page=9).

If you bought a diamond-only ring for $2k, using the table the max payout is 32%, or $640. So you can calculate your max payout using the table for each piece of diamond jewelry you bought. I assume it won't be that much, though:cool:. I have appraisals on my ring and earrings as loose diamond purchases (they were purchased loose and then set), so I filed it under that as it's a higher percentage potentially back.

[Jenyfer9]

Right! Keep this quiet (shhh!) so we all get more money back :p

[KK812]

This is really for any diamond purchases? My ring is from Tiffany-do they get DeBeers diamonds?

[tinkerbelljenny]

I'm starting to really like class action lawsuits. We just got $70 back from 24 hour fitness today and I'm waiting on my $25 or whatever from the international credit card use one.

Did you get the money from 24 Hour Fitness from the lawsuit about workers outside of California not getting overtime or was it from another lawsuit? Just want to make sure I am not missing out on any money I could be getting!

[SiValleySteph]

Did you get the money from 24 Hour Fitness from the lawsuit about workers outside of California not getting overtime or was it from another lawsuit? Just want to make sure I am not missing out on any money I could be getting!

It was something to do with the way they were administrating contracts/cancellation fees. I can't remember exactly. Not from working there, but from being a member.

[Rosebud]

Silly question, but has anyone else had trouble filing online for this? I've tried now on three different computers-- two at home and one at DH's work-- and all three times the site won't allow me to fill out an online form because it says my computer will not allow cookies. And on each computer I've adjusted the security settings to allow all cookies. :rolleyes:

So, there's a PDF of the form and you can print it, fill it out and mail it in, but what a pain. I can't figure out why the website is being so problematic.

[Meme]

I have also tried from three different computers in different locations, and I couldn't file online either. I got the same message about not allowing cookies and have adjusted by settings to do so, but it still wouldn't work. I don't find filling out the form to be so bad but going to the post office and sending it by certified mail with return receipt is just a pain to me.

[Rosebud]

Good to know I'm not the only one having trouble. I was wondering if there was such an overwhelming response that the website just wasn't allowing anyone to access the form online anymore and using cookies as an excuse.

[LyLMyssChaos]

I was able to file online on Friday without an issue. As far as it being a pain to fill out the form and file, it would depend on how much you are looking at getting back. For me, it would be completely worth filling out the paperwork and mailing it.

[rene']

I tore the house apart last night looking for receipts for my two rings I received from DH for our anniversary in 2005 & 2006. Could not find them. Luckily, we had put them on a card so I requested a copy of the statements for the months in which we bought them. That should work, right?

[LyLMyssChaos]

I tore the house apart last night looking for receipts for my two rings I received from DH for our anniversary in 2005 & 2006. Could not find them. Luckily, we had put them on a card so I requested a copy of the statements for the months in which we bought them. That should work, right?

The information on the site said that it would work. You don't have to have the proof to file if you know the purchase price. You will need to have some sort of proof of price if they ask for it later, however.

[Rosebud]

We only have credit card statements for ours as well. That should work just fine!

[twainny]

So if my e-ring cost about $6500 but it was appraised at $8800, which do I list on the form? (I am going with the $8800, cause I know I have that receipt!)

[Meme]

I just went back on and filled out the form without changing any of my settings or doing anything differently. I don't know why it worked but it did.

[kdotp]

So if my e-ring cost about $6500 but it was appraised at $8800, which do I list on the form? (I am going with the $8800, cause I know I have that receipt!)
We went with the actual purchase price of just the loose diamond (which we had the receipt for). It was less than the appraised value of the entire setting, but I felt more comfortable doing it that way.