After years of delays, the first checks from the De Beers Class Action Settlement were finally mailed on August 31 to the jewelry resellers (including retailers) who filed claims. While you may have already cashed your settlement check, your customers will have to wait a little longer. According to the De Beers Diamond Class Action Settlement website, www.diamondsclassaction.com, distribution to other subclasses (including consumers) should take place within the next few months.
While some in the industry are happy with the results, jewelry customers who expected a big payment could be disappointed once the checks finally arrive. Jewelers of America offers the following tips to help manage expectations and answer consumer questions about the settlement: