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De
Beers Antitrust Class Action |
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| With co-counsel, Lieff Cabraser Heimann & Bernstein,
LLP, serves as plaintiffs’ class counsel in a suit by diamond consumers
against South African company De Beers, the world’s largest diamond supplier. |
| Plaintiffs alleged that De Beers, a privately
held group of foreign-based companies, had monopolized the international diamond
business through its control of mines and a web of agreements with diamond suppliers
in other countries. De Beers denied the allegation and maintained that it is
not subject to the jurisdiction of United States courts. |
| Captioned Sullivan et al. v. DB Investments,
Inc. et al.,
the federal court class action names DB Investments, Inc., De Beers S.A., De
Beers Consolidated Mines, Ltd., De Beers A.G., Diamond Trading Company, CSO Valuations
A.G., Central Selling Organization, and De Beers Centenary A.G. as defendants. |
| On November 29, 2005, U.S. District Judge Stanley R. Chesler
gave preliminary approval to a settlement of the class action. |
| Under the terms of the agreement, De Beers will pay $295
million to U.S. jewelry makers, retailers, and consumers who purchased diamonds
and diamond jewelrybeginning in 1994. Equally significant, De Beers agreed to an injunction requiring
it to abide by the United States federal and state antitrust laws, and to submit
to the jurisdiction of United States courts for enforcement of the injunction. |
| Following preliminary approval of
the settlement, Judge Chesler appointed a special master to consider
the allocation and distribution of the settlement money among jewelry makers,
retailers, and consumers. |
| On April 14, 2008, Newark U.S. District Court Judge Chesler stated he will grant final approval to the settlement. |
| Consumers who purchased diamonds between January
1, 1994 through March 31, 2006 may be eligible for a payment under a proposed
settlement in a class action lawsuit against the De Beers group of companies.
The settlement provides over $130 million to the consumer class. Claim forms must
be submitted by May 19, 2008. To learn more about the settlement and to file
a claim on-line, visit www.diamondsclassaction.com. |
| To contact a Lieff Cabraser attorney concerning the De Beers
antitrust class action, please click here. |
| Lieff
Cabraser Heimann & Bernstein, LLP is a fifty-plus
attorney law firm that has represented plaintiffs nationwide
since 1972. We have offices in San Francisco, New York
and Nashville. We represent plaintiffs in class and
group actions and in individual lawsuits in cases involving
substantial losses. For the last five years, the National
Law Journal has selected Lieff
Cabraser as one of the top plaintiffs' law firms in
the nation. |
| This website is sponsored by Lieff Cabraser
Heimann & Bernstein,
LLP, a national plaintiffs' law firm. |
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LIEFF CABRASER HEIMANN & BERNSTEIN, LLP |
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| Notice: Lieff
Cabraser attorneys provide legal advice and practice law for clients in
federal district courts throughout the United States and in state courts
where we are licensed to practice. In states in which our lawyers are not
licensed to practice, we have affiliations with local attorneys who serve
as co-counsel with our firm. Please read our disclaimer. |
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Copyright © 2008 Lieff Cabraser Heimann & Bernstein,
LLP |
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Learn about cases involving price-fixing and anti-competitive conduct. |
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