Judge to approve De Beers class-action settlement

A federal judge is slated to issue a ruling approving the $295 million De Beers class-action settlement case, the London-based diamond giant announced today. In a hearing held on Monday in U.S. District Court in New Jersey, Judge Stanley R. Chesler said a written decision approving the settlement would be forthcoming, bringing the case to a close. The case against De Beers began with a series of lawsuits alleging that the company charged anti-competitive prices for rough diamonds.

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Posted by Posted by Jewelry News at Wednesday, April 16, 2008 7:35 AM
Categories: De Beers
 

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  • Thursday, April 17, 2008 11:02 AM Dani wrote:
    This lawsuit really did not surprise me, i mean it seams like almost everyday you hear about DeBeers expanding , get so big at its easy to try to gain more of an advantage (dare i say 100% monopoly) on the market.
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