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Article: Jewelers expecting meager De Beers payout
- Article from:
- The Record (Bergen County, NJ)
- Article date:
- January 17, 2008
- Author:
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JOAN VERDON, STAFF WRITER
The Record (Bergen County, NJ)
01-17-2008
Jewelers expecting meager De Beers payout -- May 19 deadline to file a claim
By JOAN VERDON, STAFF WRITER
Date: 01-17-2008, Thursday
Section: BUSINESS
Edtion: All Editions
Jewelry store owners and consumers have until May 19 to stake a claim to part of a $137 million settlement payment by the De Beers diamond empire.
But jewelry sellers and their trade groups said they're not sure the eventual payout will be worth the paperwork involved in filing a claim.
De Beers has agreed to pay a total of $295 million to settle a series of class action lawsuits that alleged the company inflated prices for rough diamonds by monopolizing the ...