Diamond Class Action Settlement: Is It Worth Submitting a Claim?

diamond heart ring

You may have already heard that if you bought a diamond or diamond jewelry between 1994 and 2006, you might be able to get a share of a class action settlement. Is it worth your time to submit a claim? Based on the results of past class action suits, it’s a bit of a gamble.

My husband, who bought my engagement ring in 1997, is part of the class potentially eligible to receive money back. According to the lawsuit, he was overcharged because the De Beers diamond company was fixing prices. (Because De Beers is on the mining side of the supply chain, you may be eligible for the rebate even if you bought a diamond from a retailer — who might have been one of the company’s

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37 Responses to Diamond Class Action Settlement: Is It Worth Submitting a Claim?

  1. Mike says:

    You won’t get a dollar back ;-)
    “There is also the possibility that the pro rata computation for some claims will result in payments of under $10.00, which are too small to process because of the administrative cost of distributing checks. Those claimants will not receive any payment. “

  2. Ivonne M. Morrison says:

    Dear Sir/Madam: Throughout the period of 1994-2006 my husband spent a large sum of money to purchase several pieces diamond jewelery ranging from a 1.33 carats Marqis solitare diamond ring appraised at $17,900, a 1.3 carats pear shape solitare diamond pendant appraised at 16,800 Euros, a 1.0 carat diamond and emerald ring appraised at $10,000 and a 1.0 carat diamond stud earings appraised at $3,000. These diamond pieces were purchased from several retailers including Solomon Brothers in Honolulu, HI, Atlanta, GA and Amsterdan, The Netherlands.

    Please add both my husband George J. Morrison and Ivonne M. Morrison to the plaintiffs of the current class action lawsuit against DeBeers and its retailers.

  3. savysaver says:

    I also submitted my claim. Getting money back would be great, but I submit the idea to give this money back to the folks in Sierra Leon who lost lives, limbs, homes and loved ones for our diamonds during this same period of time. Check out the movie “Blood Diamonds” and see if this class action suit shouldn’t be going to the people who lost more than money for these diamonds. I just need to figure out how to get the money to the right people in Sierra Leon if I recieve it.

  4. Skip Smith says:

    Hey Ivonne, why don’t you submit the claim yourself?

  5. Marlin lutz says:

    I purchased 3 diamond pieces for my wife during these years. One was a 1 ct diamond ring, 1/2 ct earrings, and a 1 ct diamond pendant. I spent a total of $4000 and would like any reimbursement.

  6. John says:

    Hey savysaver,

    Check out http://www.kiva.org. I think you might find great personal satisfaction in this program.

  7. Cathy says:

    I submitted a claim but haven’t heard a word…when was this to be settled and if there is any moneys coming back, when was/is it to be dispursed?

  8. Amy says:

    per the website, the lawsuit is being appealed at this time. Who knows how long that will take. I’m dying to find out though…

  9. Mandy says:

    The shouldn’t be an appeal. This was a settlement agreement reached by both parties.

  10. CTA says:

    The appeals are by members of the consumer class objecting to the formula for distributing the settlement funds. It could take awhile to work its way through the court. FYI Ivonne, the deadline has long since passed for making a claim.

  11. R. Wenger says:

    I also had submitted a claim, before the May 2008 deadline, against $7122.00 in diamond jewelry purchases made by myself. It would be a resonable request for some type of general notification regarding the lawsuits’ status would be published or e-mailed for those consumers who filed a claim, but keeping everyone in the dark about the refund time frame probably means the only ones that will profit are the lawyers!!

  12. kathey says:

    how can we find out what the status of our claim is?

  13. Kim says:

    I am wondering the same thing, i called the # and got no useful info, just the same bull as listed on the website. I want MY money!!!

  14. angela says:

    I, too, submitted a claim. I have purchased numerous diamonds over that period. I have bought diamond studs, diamond bracelets, several rings over the years. I’m just patiently awaiting my day to see a check of some sort. My husband also bought me a wonderful solitaire ring. We both are patiently awaiting.

  15. Norman Parker says:

    You did not have to have receipts for claim filing. But I hope that most people thought that was required. More money for me!! Ivonne: That is not a large sum of money. Also, I presume your husband has more cognitive ability than you, or he wouldn’t have earned enough money to buy even those trinkets. “Please add both”…jeez!

  16. Patty says:

    Norman Parker: you are a bit harsh! I don’t know how much you earn, but for us little folks, the amount Ivonne’s hubby spent on those “trinkets” could have replaced both bathrooms in my house! Get a clue! “jeez”!

  17. rondo says:

    i got a check 5 days ago in the mail and it has already cleared. $478 dollars if anyone is interested. I had purchased a ring for 4,500 dollars

  18. Amy says:

    NO WAY! They haven’t even released this money yet! Are you sure this is where you got it? Did you turn in any receipts?

  19. Mark says:

    This thing has been going on forever. Does anyone know when they might start sending payments?

  20. JAGPSL says:

    I think Rondo is full of crap. None of my friends or family has recieved anything and they did it before I did.

  21. G. Dragoo says:

    There have been no checks sent out so JASPL. My claim was sent in very early and no money. I had $20,000 in claims I submitted and there is no way to contact anyone. I wonder if this will be in appeals court forever.

  22. Linda says:

    I too have filed a claim and was wondering on the status.

    Thanks for keeping us informed.

    I really don’t expect to get anything…but if I do..fine.

  23. Jay says:

    I submitted a $11K claim before the deadline, and was afraid everything had gone dark. Not dark, just grey. Useful commentary in this thread, and I agree…Ivonne should do her own homework. And if she doesn’t, we all benefit from her laziness. I checked the site today, still in appeals. That guy who said he received a check sounds like a nigerian spam scammer: I received a check for $1M, and if you can provide me 20% of that, I will receive the other $20M!

  24. Kerry says:

    We submitted a claim for about $30k, my engagement ring and wedding band. I’ll be happy if we see something, but i’m not optimistic:(

  25. joshua says:

    If anyone wants to know what is going on, Google the attorneys below that represent those of us who filed claims and ask. They are our counsel and must talk to you.

    The Court has appointed the following law firms to represent the Class Members: Berman DeValerio Pease Tabacco Burt & Pucillo; Cooper &
    Kirkham, PC; Glancy Binkow & Goldberg LLP; Korein Tillery, LLC; Lieff Cabraser Heimann & Bernstein, LLP; Law Offices of John A. Maher;
    Meredith Cohen Greenfogel & Skirnick, PC; Stamell & Schager, LLP; Sommer Barnard Attorneys PC and Zelle Hofmann Voelbel Mason & Gette,
    LLP.

  26. Pat says:

    When I submitted, I said to myself,”self, one day about seven years from now, you will get a check in the mail for a couple of hundred dollars” then I let it go:)I noticed the paperwork today and checked in. It is coming. I’m patient.

  27. Doug says:

    Check out APPENDIX B:
    CLAIMS PROCESSING PROCEDURES

    C. Indirect Consumer Subclass
    (pages 10 and 11)

    CONSUMER DIAMOND PRODUCT TABLE:

    Mixed Stones Jewelry $200 = 14.5%
    Diamonds Only Jewelry 10k 45%
    Loose Diamonds any 52%

    maximum pay out for your diamonds!! CHA-CHING!!

  28. julie says:

    ditto.Filed claim. Got claim number. Still waiting……

  29. Robin says:

    Update on 7/14/2010 — still in limbo….

    The Fairness Hearing was held on April 14, 2008, and the Court approved the Settlement on May 27, 2008. Appeals were subsequently filed contesting final approval of the Settlement. A hearing on these appeals was held on January 28, 2010, at the Third Circuit Court of Appeals in Philadelphia.
    **On July 13, 2010, the appeals court sent the settlement back to a lower court for further consideration.**

    Personally, I would LOVE to understand what the heck all these appeals are about! Settlement was approved over 2 years ago. I think they are dragging this out just so the greedy lawyers can keep more of the money for themselves and less to those of us who have a right to it based on this suit!

  30. Kim says:

    I See that the checks will be mailed out soon………..whohoo!

  31. Skiz says:

    I received a check for $55 on 6/10/13. So to the guy who said you won’t get a dollar, he was wrong.

  32. Dave S. says:

    I just received a check for $62!!!

  33. Liz says:

    Got a check today for $151.00. Glad I took the time to file a claim.

  34. Cash baby says:

    LOL. I got a check today too! $175!!! He was definitely wrong…

  35. Leslie says:

    I got a check today for $50! I had completely forgotten about this.

  36. Susan says:

    I just received a check for $55…. I am good with that!

  37. Willie says:

    I received a check for $70, forgot all about this.

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