De Beers Diamond Lawsuit Has Consumers Checking Receipts

If you have not done so already you may want to start checking your receipts and back statements to see if you purchase a diamond between 1994 and 2006. If you have than you may be able to receive some money from the $295 million dollar lawsuit that De Beers has just settled.

It seems that the De Beers company was charged with anticompetitive prices and advertising that was misleading. The bottom line is that consumers paid more than they should have for their diamonds. They have never admitted that they did anything wrong but they did agree to the settlement. If you would like to submit a claim you can do so by visiting https://diamondsclassaction.com. Or you can call 1800-760-5431 for additional information. The history of the De Beers company is a long one.

The De Beers company is the largest and most successful diamond company in the world. According to MSNBC.com, they control a large part of the rough diamond market, which is why many felt that they were guilty of price fixing.

Of course the De Beers company is not the only company that has been accused of price fixing. According to www.citynews.com, The Hershey Company and several other candy makers are being sued in both New Jersey and Pennsylvania. There have been a total of three lawsuits which have been filed. Yet another case of a company being charged with a price fixing scheme is the oil giant BP. According to an article by the Associated Press, In October, 2007 BP agreed to pay $273 million dollars in fines and restitution. It is pretty obvious based on these other stores that De Beers is not the only company guilty of price fixing.

There is also the lawsuit against six monitor manufactures that say these companies were involved in a price fixing scheme of CRT Monitors. There are probably dozens more company's who will be found guilty of the same thing, especially as the economy continues to get worse. Of course even though De Beers never admitted guilt many feel that they are guilty because they chose to settle. Other's feel that by setting they are making a wise business decision.