Monday, January 7, 2008

De Beers Class Action Settlement

One of the better class notices I've seen appeared in Parade Magazine on Sunday, January 6, 2008. It announced a $295 million settlement of a diamond market price fixing class action lawsuit against De Beers diamonds.

The notice provides a nice summary of the class settlement with plenty of information on how class members can learn more about the case. The settlement fund totals some $295 million. It covers diamond purchases from Januay 1, 1994 through March 31, 2006. Additional information can be found at

Paul & Sugerman did not participate in this case and has no connection to the claim.

The size of the settlement fund suggests that class counsel did a great job in putting together what must have been a tough case. But more important, it's an impressive job of providing notice.

David F. Sugerman
Paul & Sugerman, PC

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