Reminder: Submit Your Diamond Claim by May 19
If you or your fiance/spouse purchased any diamond jewelry or loose diamonds between January 1, 2004, and March 31, 2006, be sure to get your claim in for a piece of the $295 million class-action lawsuit against DeBeers.
You can read more about the lawsuit here.
Although there’s no telling whether you’ll get $10 or thousands, you can look at the table in the article to determine the maximum amount you’re eligible to receive (it depends how many people file a claim, and for how much). But hey, ten bucks is still ten bucks, and you can always turn your ice into snowflakes (yes, I plan to continue using lame wordplays on “snowflaking” - deal with it!).
To submit an electronic claim, click here. To download a .pdf version to mail in, click here. Remember, your claim must be submitted/postmarked by May 19, 2008.
(This post was included in the Carnival of Snowflaking, hosted by Dreaming of Ferraris.)
Photo Credit: Engagement Rings by elmada, used under Creative Commons licensing
2 responses so far
Not to burst a bubble but here are my thoughts as (1) jewelry store owner out of 50,000 that buy millions a year and have part of this claim as well.
There has been a proposed settlement on a class
action suit against De Beers – and consumers can file
claims. A website has been set up at
http://www.diamondsclassaction.com, for more information or to file
a claim. Or you can call 1-800-760-5431 for more
information.
I seen a smiley faced gal just told America if they bought a 10,000
dollar engagement ring from 1994 and 2006 they may be
entitled to receive up to 45% of their purchase price back
as part of the settlement. Good news is she said even if you
bought your diamond from Sears or K mart. How’s that for kick
a$$ journalism. Goooooooo Fox. Must be a really slow news
day. Don “the reporter on the scene, self-sufficient
jeweler” They also said you don’t need a receipt or proof when you first file?
Here is what people don’t know.
The 35% refund quoted in the paper. That the TOTAL
amount in the settlement pool is $295 million.
Now, figure 25% to lawyers, and then figure how many people
WORLDWIDE (not just the U.S.) bought a diamond in those
twelve years……uh maybe about 100 million???? Can’t wait
to get your $2.95 now Mr. Customer. Oh, and by the way,
guys like ME (jewelers) are also in on the settlement. In those years I purchased and sold over 10 million , Im just one of 30,000 Jewelers in this country to stake a claim first.
$295 Million to DeBeers is like $1 to us. It was worth the price so they could keep selling in the USA.
Save the postage.
So, some still want to try this and I get so many emails and request that this is what its ended up for me to do.
A Customer ~
I have no idea how much I’ve bought from you over
the years – the notice said I could file a claim for
anything I’ve purchased between 1994 and some time in 2006.
Myself : The claims period for consumers is Jan. 1, 1994 to
March 31, 2006. We can do some research and get back to you
concerning the information we have for your purchases on
file. I can’t promise we have records that go back that far,
but we’ll do our best to give you a summary of all your
purchases we have on record. It will cost you $60 per hour for me to look up information and get receipts.
If I thought it was worthwhile I would not ask this.
Readers - Yes, you probably won’t get much from this. And I wouldn’t suggest making your jewelry store research what you’ve purchased, but I would hope you could figure out how much you paid for your engagement/wedding rings fairly easily on your own.
Filling out the form only takes a few minutes, and 41 cents is only a small gamble to take for $10 or more. With that in mind, if your total purchase was $165 or less for mixed stone jewelry, or $95 or less for diamond-only jewelry, you probably won’t get squat.
Check out this article at Blueprint for Financial Prosperity to help you decide whether to file.