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DeBeers $300M Price-Fixing Dispute

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Buy Diamonds, Get Money Back - DeBeers $300M Price-Fixing Dispute
DeBeers $300M Price-Fixing Dispute
 Published: Jan 11, 08
 Views: 4,473

DeBeers, the diamond monopoly, acted like one, and got caught doing it.

It turns out, if you purchased any jewelery from the company, you may be entitled to a rebate on your dazzler. Individuals can make a claim before March 19 for part of the $295 million settlement. DeBeers is still denying any wrongdoing; they were charged with anticompetitive acts as well as false and misleading advertising.

Eligible customers include anyone who purchased a diamond between January 1994 and March 31, 2006. That means on a $2000 ring, customers could get back up to $640.

Details at DiamondsClassAction.com

John Maher, the plaintiffs’ attorney, said the diamond leader violated the law. "They controlled and monopolized the sale of rough diamonds and as a result merchants paid more than they should have for those stones," he said. De Beers has not admitted to doing anything wrong in the $295 million settlement. An earmark of $135.4 million has been made for consumers who file a claim. (wnbc)

References:  diamondsclassaction, wnbc

Filed In:  business,  fashion,  lifestyle,  luxury,  ultra luxury,  world








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