Is Your Diamond Eligible For A Refund?
People who have bought diamonds any time between January 1, 1994, and March 31, 2006 may be in for a little return on their purchase. De Beers has settled a class action lawsuit for $295 million. Under the terms of the settlement individual consumers and members of the diamond trade can make a claim. The settlement is the result of a lawsuit which said that the South African company charged anticompetitive prices for the rough diamonds it sold, monopolized the rough diamond market, and disseminated false and misleading advertising. De Beers has not admitted to any wrongdoing. The rewards can be substantial, WNBC reports that a consumer who bought a $2,000 ring could get as much as $640 back. There is a settlement website for claims, which provides details on who might be eligible and those interested in filing must do so before March 19.