3rd Circ. Nixes $295M Deal In De Beers Antitrust Suit

Law360, New York (July 13, 2010, 7:29 PM EDT) -- A federal appeals court vacated a $295 million settlement Tuesday that resolved a price-fixing class action against diamond company De Beers SA, saying the lower court did not sufficiently analyze whether it was appropriate to certify the suit as a class action.

The ruling was issued by the U.S. Court of Appeals for the Third Circuit, which held that the lower court did not address differences among the state laws at issue in the case. Purchasers in some states, the court noted, have different legal rights...
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