Diamond Antitrust National Class Action

+ - Documents (22)

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**SETTLEMENT ALERT: DIAMOND PRICE-FIXING**

On June 16, 2011, Consumer Law Group commenced a class action against De Beers and other related entities alleging that they engaged in an international conspiracy to fix the price of Gem Grade Diamonds starting as far back as January 1, 1994, and that, as a result, class members paid more for their Gem Grade Diamonds than they would have but for the illegal conduct.

On October 16, 2016, the parties reached a proposed Canada-wide settlement in the global amount of $9.4 million. A copy of the Canadian Diamonds Class Action National Settlement Agreement is available here:

• Settlement Agreement

Hearings to consider approval of the settlement will be heard by the Ontario Court in the City of London on October 30, 2017 at 10:00 A.M., the British Columbia Court in the City of Vancouver on November 2, 2017 at 10:00 A.M., and the Quebec Court in Montreal on December 4, 2017 at 9:00 A.M.

By Judgment dated March 29, 2017, the Superior Court of Quebec ordered publication of the following notices regarding these hearings:

• Publication Settlement Hearing Notice
• Short-Form Settlement Hearing Notice
• Long-Form Settlement Hearing Notice

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CONSUMER LAW GROUP has launched a Canada-wide class action lawsuit against De Beers on behalf of individuals who have purchased a diamond or purchased any products which contain a diamond since January 1st 1994.

The class action is based on De Beers longstanding monopolistic power in the diamond industry and their use of this power to artificially restrain trade and increase the price of diamonds by controlling inventory, limiting supply, restricting purchase, and falsely advertising the scarceness of diamonds.

Due to this conduct consumers have paid higher prices for diamonds and products containing diamonds than they would have paid in a competitive market.

To post a comment, please visit our blog at www.diamondclassaction.blogspot.com

The class action lawsuit identifies the group of affected persons as:

All residents in Canada who purchased any Gem Diamond or purchased any products which contain a Gem Diamond since January 1st 1994 through to the present, or any other group to be determined by the Court;

If you or someone you know has purchased any diamond or purchased any products which contain a diamond since January 1st 1994 and you wish more information on potential compensation or to be kept advised of the status of the Diamond Antitrust Class Action litigation or any resulting compensation resulting from the Diamond Antitrust Class Action Lawsuit in Canada, Quebec or Ontario, please provide your contact information to our law firm using the below form.

IF YOU WISH TO JOIN THE CLASS ACTION OR TO SIMPLY GET MORE INFORMATION, PLEASE COMPLETE THE FORM BELOW. Please note that providing your information creates no financial obligation for you. You are not charged any fee or cost for joining this class action. Our law firm is paid a contingency fee from the compensation recovered, only if the class action is successful. All information contained in this transmission is confidential and Consumer Law Group agrees to protect this information against unauthorized use, publication or disclosure.