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Updated August 31, 2012

Found this update on the diamond class action suit some of us joined. Looks like our money is coming in the next 4 months.
The Fairness Hearing was held on April 14, 2008, and the District Court approved the Settlement on May 27, 2008. Appeals were subsequently filed contesting final approval of the Settlement. A hearing on these appeals was held on January 28, 2010, at the Third Circuit Court of Appeals in Philadelphia. On July 13, 2010, the appeals court sent the settlement back to a lower court for further consideration. On August 27, 2010, the Court issued an order granting plaintiffs' request for a rehearing by the entire Court, thereby making the first appellate court decision no longer in effect. The Court heard the appeal again on February 23, 2011. On December 20, 2011, it held that the settlement complied with the law and should be approved. On May 21, 2012, the U.S. Supreme Court denied the final petition for review. Pursuant to an Order of the Court, Initial Distribution checks were mailed to Authorized Reseller Claimants on August 31, 2012. Please see the Resellers Home Page for more information about the Initial Distribution. The claims administrator is conducting final claim audits, and distribution of settlement funds to other subclasses should take place within the next few months. Please visit the website periodically for any further updates. https://diamondsclassaction.com/index.htm

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Got a check for $82. Had almost given up on this. Let's see if it deposits OK.

Shayrose (Jun. 29, 2013 @ 10:18a) |


Is this claim targeted?

UPDATED AUGUST 31, 2012

The claims administration process for the Reseller Subclass claimants is complete, with the exception that the Settlement Administrator continues to investigate the claims of certain claimants who may have incorrectly filed as Direct Purchaser Class members when they are truly Reseller Subclass members. To prevent any delay in distributing payments to Authorized Reseller Claimants, while also planning for the contingency that these Direct Purchaser claims may be paid out of the Reseller Subclass Settlement Fund, we have instituted a two-step distribution.

To that end, an Initial Distribution of the proceeds of the Reseller Subclass Net Settlement Fund were distributed to the Authorized Reseller Claimants by the Settlement Administrator on August 31, 2012. The remaining funds are anticipated to be distributed approximately 180 days later.

butterflies1955 said:    Looks like our money is coming in the next 4 months.


If they are still on schedule, within a few weeks for the consumer class.

I wonder how many marriages have lasted as long as this settlement has?

Top of page 11 has the amount of the settlement for consumers, per type of item purchased:

https://diamondsclassaction.com/pdfs/Consumer-ResellerNotice.pdf

Examples:

Mixed Stones Jewelry - Less than $200 - 6% of the retail price
Mixed Stones Jewelry - More than $200 - 14.5% of the retail price

Diamonds Only Jewelry - Less than $200 - 10.5% of the retail price
Diamonds Only Jewelry - $10,000 or more - 45% of the retail price

Loose Diamonds - Any Amount - 59% of the retail price

Several people, including myself, must have changed addresses long since submitting for the settlement. This has unclaimed funds written all over it.

lonestarguy said:   I wonder how many marriages have lasted as long as this settlement has?

Not mine.

slomo007 said:   Several people, including myself, must have changed addresses long since submitting for the settlement. This has unclaimed funds written all over it.

I've moved 4 times (not including a few months in a hotel) and updated my address with them each time. We'll see how things go.

We just received a check for some Canadian Auto Dealers Settlement for a car we owned ten years ago --- I forgot even filling out the form -- I had to make sure the check wasn''t a scam b/c couldn't remember anything about it

It was like $100

talljay said:   I've moved 4 times (not including a few months in a hotel) and updated my address with them each time. We'll see how things go.

How did you update your address info? I tried calling the # listed on the website to change your address, but it just gives some ridiculously long useless recording with options that take you to more ridiculously long recordings. Couldn't find an option to change my address or talk to a human. Did you do it via snail mail?

I heard they are very responsive by email, based on reports on other forums. Try that for address update.

My marriage is awesome, 7+ years now... and still in the same house. Now with two kids. Can't wait to get home each night after work.

bxd20 said:   I heard they are very responsive by email, based on reports on other forums. Try that for address update.

My marriage is awesome, 7+ years now... and still in the same house. Now with two kids. Can't wait to get home each night after work.


So your spouse reads fatwallet threads!!!!!

Definitely, contact them via email to change address. Very rapid response.

MilleniumBuc said:   Top of page 11 has the amount of the settlement for consumers, per type of item purchased:

https://diamondsclassaction.com/pdfs/Consumer-ResellerNotice.pdf

Examples:

Mixed Stones Jewelry - Less than $200 - 6% of the retail price
Mixed Stones Jewelry - More than $200 - 14.5% of the retail price

Diamonds Only Jewelry - Less than $200 - 10.5% of the retail price
Diamonds Only Jewelry - $10,000 or more - 45% of the retail price

Loose Diamonds - Any Amount - 59% of the retail price


That's not the amount you'll get back, that's the adjustment they'll make to see what _share_ of the pie you get.

So, if there were $1,000 to be divided (just to make up #s), and the only people in the class were person A who bought a $10k diamond ring and person B who bought a $5000 loose diamond, then:

Person A: $10k *.45 = 4500 "points"
Person B: $5k *.59 = 2950 "points"
Total = 7450 "points"

$1000/7450 = $0.134/point

Person A gets 4500*.134 = $604
Person B gets 2950*.134 = $396

Edited to correct math.

germanpope said:   We just received a check for some Canadian Auto Dealers Settlement for a car we owned ten years ago --- I forgot even filling out the form -- I had to make sure the check wasn''t a scam b/c couldn't remember anything about it

It was like $100


Glad I'm not the only one who did that.

NimX said:   talljay said:   I've moved 4 times (not including a few months in a hotel) and updated my address with them each time. We'll see how things go.

How did you update your address info? I tried calling the # listed on the website to change your address, but it just gives some ridiculously long useless recording with options that take you to more ridiculously long recordings. Couldn't find an option to change my address or talk to a human. Did you do it via snail mail?


Use this email: administrator@diamondsclassaction.com


So does anyone know how we notify them of address change?

So does anyone know how we notify them of address change?

megaanita said:   So does anyone know how we notify them of address change?

Read two replies above yours.

talljay said:   NimX said:   talljay said:   I've moved 4 times (not including a few months in a hotel) and updated my address with them each time. We'll see how things go.

How did you update your address info? I tried calling the # listed on the website to change your address, but it just gives some ridiculously long useless recording with options that take you to more ridiculously long recordings. Couldn't find an option to change my address or talk to a human. Did you do it via snail mail?


Use this email: administrator@diamondsclassaction.com


Thanks for the address! I used this email to update my address and received the following message:

Thank you for the update. Your address has been changed.

The Claims Administrator is conducting final claim audits. We anticipate that the distribution of settlement funds to other subclasses will take place in early 2013.

Thank you
Diamonds Claims Administrator

Who knows if this means anything, but figured it was worth updating.

Unfortunately, the pessimistic timeline is "by summer" and the optimistic is "end of April". Depends who you believe.

http://www.topclassactions.com/lawsuit-settlements/lawsuit-news/...

There's an update as of 3/15/13, and it's still saying "a few more months" - Hope it's worth the wait!!

The Fairness Hearing was held on April 14, 2008, and the District Court approved the Settlement on May 27, 2008. Appeals were subsequently filed contesting final approval of the Settlement. A hearing on these appeals was held on January 28, 2010, at the Third Circuit Court of Appeals in Philadelphia. On July 13, 2010, the appeals court sent the settlement back to a lower court for further consideration. On August 27, 2010, the Court issued an order granting plaintiffs' request for a rehearing by the entire Court, thereby making the first appellate court decision no longer in effect. The Court heard the appeal again on February 23, 2011. On December 20, 2011, it held that the settlement complied with the law and should be approved. On May 21, 2012, the U.S. Supreme Court denied the final petition for review. Pursuant to an Order of the Court, Initial Distribution checks were mailed to Authorized Reseller Claimants on August 31, 2012. The remaining proceeds of the Reseller Subclass Net Settlement Fund were distributed to Authorized Reseller Claimants on March 15, 2013. Please see the Resellers Home Page for more information about the Initial Distribution. The claims administrator is conducting final claim audits, and distribution of settlement funds to other subclasses should take place within the next few months. Please visit the website periodically for any further updates.

Thanks for the update. I'd completely forgotten about this. Emailed last night and already had a reply confirming my updated address this morning.

actual scuttlebutt (timings are holding fairly well):

March 7th said: Rust acts on the direction of counsel in this matter. There remain issues related to the distribution of the fund and no concrete deadline or timeline. Plaintiffs' counsel is in the process of determining the final distributable amount. Once that is provided to Rust, we will finalize the calculations and submit a declaration to the Court for approval. Subsequent to that approval, Rust will print and mail checks, likely within approximately three weeks.

April 4th said: they are sending to judge today to sign off and release funds

Just found the following information here - http://www.mysettlementclaims.com/blog/?p=1345


April 10, 2013

De Beers Class Counsel Asks to Pay Consumer Subclass in Class Action Settlement

We have more details on Class Counsel’s Motion For An Order Approving Distribution Of Settlement Funds To Indirect Purchaser Consumer Subclass. De Beers settlement checks may be coming soon…

As part of the Motion, Amy Lake, a Senior Project Administrator with the Settlement Administrator, filed a Declaration Regarding the Claims Administration Process and Allocation and Distribution of the Consumer Settlement Fund. In her Declaration, Ms. Lake states that as of September 19, 2012, the Settlement Administrator had mailed Notice Packets to 42,504 potential Indirect Purchaser Consumer Subclass members. Further, the Settlement Administrator received and processed 537,657 online claims and 68,387 paper claims from potential Indirect Purchaser Consumer Subclass members.

From the paper claims, the Settlement Administrator determined that the claims were deficient if they a) contained incomplete purchase information or did not contain purchase information; b) were not completed on the Indirect Purchaser Consumer Subclass Corrected Consumer Proof of Claim and Release; c) did not provide proof of purchase for any jewelry item that cost $10,000 or more; d) provided proof of purchase that was illegible; e) were missing a signature; and/or f) provided purchases that were outside the Class Period.

From the internet submitted claims, the Settlement Administrator determined that the claims were deficient if they a) did not provide proof of purchase for any jewelry item that cost $10,000 or more; b) provided proof of purchase that was illegible; and/or c) provided purchases that were outside the Class Period.

The Settlement Administrator sent 39,888 letters via mail and 18,415 via email, advising these claimants their claims were deficient and allowing between 15 and 30 days to respond and cure the deficiencies.

The $295 million Settlement Fund was allocated as follows: a) $272.5 million to the Indirect Purchaser Class Settlement Fund with 50.3% ($137,067,500) of the total to the Indirect Purchaser Reseller Subclass Settlement Fund and 49.7%($135,432,500) of the total to the Indirect Purchaser Consumer Subclass Settlement Fund before deduction of taxes, attorneys’ fees and expenses, incentive awards to named plaintiffs, costs of administration, and any other amounts approved by the Court; and b) $22.5 million to the Direct Purchaser Class Settlement Fund before deduction of taxes, attorneys’ fees and expenses, incentive awards to named plaintiffs, costs of administration, and any other amounts approved by the Court.

The $135,432,500 Indirect Purchaser Consumer Subclass Settlement Fund grew to $153,251,075.85 due to accruing interest.

However, $44,523,927.08 has already been deducted from the fund for the costs of administering the settlement – including $2,324,564.76 in payments to the Settlement Administrator and $35,213,612.89 in attorneys’ fees.

Taking into account the estimated fees to still be paid, the net balance in the Consumer Subclass Settlement Fund as of February 28, 2013 is $107,929,082.45.

The Settlement Administrator determined that 551,909 claimants were eligible to receive a distribution from the Consumer Subclass Settlement Fund. However, the sum of the Recognized Claim Amounts for all Authorized Consumer Claimants is $2,016,260,349.27. Thus, each eligible award will be reduced pro rata.

The Settlement Administrator calculates the average award at $180.75, excluding outliers.

54,135 claims were determined to be ineligible by the Settlement Administrator.

22,951 claimants’ total payments are below the $10 threshold and are therefore not entitled to receive a payment. Those claimants will receive notice from the Settlement Administrator.

5820 claims were postmarked after the May 2008 deadline but they only represent less than 1% of the total claims on file and, therefore, the effect on timely claims is not significant. Class Counsel has asked the Court to treat these late claims as valid.

We will keep you updated as we know more.

So, depending on what kind of jewelry they bought, people will be getting back up to 3% of the purchase price (3.2% of loose diamond purchases). Image shows what % of purchase price each category of claim will be getting back. Note there's a $10 minimum - if your claim doesn't reach that level, you won't be getting anything.

cestmoi123 said:   So, depending on what kind of jewelry they bought, people will be getting back up to 3% of the purchase price (3.2% of loose diamond purchases). Image shows what % of purchase price each category of claim will be getting back. Note there's a $10 minimum - if your claim doesn't reach that level, you won't be getting anything.
Thanks for that. Lots of claims I see. Maybe I'll get back a couple hundred. I'll take it.

Checks were mailed out June 7th. Exciting.

Got my check today. A whopping $14.07. Better than a poke in the eye with a stick, I suppose.

orthros said:   Got my check today. A whopping $14.07. Better than a poke in the eye with a stick, I suppose.

How much in claims did you submit? If it was $100 then that is 10% but if it was 10,000 then that is pretty bad.

Wife got $445.17.....still waiting on mine.

I wish I remembered what I submitted, $162.50 received today.

$81.05 received today. Red Lobster here I coooooome!

Have no idea what I submitted, but I got $190.88 today.

Just got a check for $270.56, can't remember signing up, but if loose diamonds are at 3.2% then my amount makes sense based on the engagement ring loose diamond I got my my wife.

Seems legit and I can cash the check though. My first thought was scam as I couldn't remember signing up. But with others on FW getting checks today I feel much better about it.

WHOOOOO, got my check today, I had already forgotten!!!

$253! Party over here!

got 108. and wife got 43.. i think had submitted 2K for each...

Skipping 43 Messages...
Got a check for $82. Had almost given up on this. Let's see if it deposits OK.



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