Diamond customers could be due a refund

by Darla Hernandez (darlah@wsbt.com)

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The world's largest diamond wholesaler was accused of price fixing and has agreed to a $300 million settlement

The world's largest diamond wholesaler was accused of price fixing and has agreed to a $300 million settlement, half of which will go to consumers. (WSBT photo)

By Beth Boehne

MISHAWAKA — If you bought a diamond in recent years, you could be part of a class action lawsuit. But you only have until Monday to file.

The world's largest diamond wholesaler was accused of price fixing. Now, De Beers has agreed to a $300 million settlement. And some of that money could be yours.

Gogi Battista owns Gogi's Jewelry in Mishawaka. She was notified of the De Beers settlement two months ago.

“We filled out a lot of paperwork,” she told WSBT News. “I'm not even sure how much money we'll be getting back.”

But stores aren't the only ones in for a refund — so are consumers. Anyone who purchased any type of diamond between January 1994 through March 2006 is eligible.

“I have had jewelry purchased since 1994,” said customer Marijo Kelly.

Kelly plans to file a claim. Officials say half of the $300 million settlement will go to consumers.

“It's just unfortunate to think that somewhere along the line they were passing along a charge to their consumers that they shouldn't have been passing along,” Kelly said.

De Beers denies any wrongdoing. But consumers are hoping for a big payoff. There are reports if you paid $2,000 for a diamond, you could get as much as $640 back.

“Diamonds are expensive enough as it is, so it'd be a nice thing to know that we’re getting a fair deal.”

If you want to join the class action suit, click the link in the Related Content box.

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