Payout Of $295M De Beers Settlement Nears

Law360, New York (January 9, 2008, 12:00 AM EST) -- Potential class members have until May 2008 to request their share of a proposed $295 million settlement with diamond company De Beers, plaintiffs' attorneys said Tuesday.

The settlement covers a number of class action lawsuits filed around the country alleging diamond giant De Beers monopolized the rough diamond market, charging anti-competitive prices and advertising in a false and misleading way.

Plaintiffs in those cases claimed those that bought diamonds from De Beers between 1994 and 2006 have paid higher prices than they would have in a...
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