De Beers sued for price fixing and false advertising.
It's taken five years, but the checks are finally in the mail in a major class action settlement case.
You might remember the lawsuits against DeBeers Diamonds, accusing the company of false advertising and price fixing.
Under the original deal, DeBeers agreed to pay $275 million to consumers for price fixing.
Then they appealed the settlement. Five years later, people who filed claims will now finally get paid.
The checks range from $10 to $300, depending on the size of the diamond you bought. Most people are getting checks in the $30 range. Elizabeth Taylor's heirs will probably get the largest payout.
Who Receives A Check?
Anyone who bought a diamond between 1994 and 2006 was eligible for a partial refund. How much you get depends on how much you spent and the number of people who filed.
However, it's too late to file now. The deadline for claims ended 5 years ago.
But if you filed, check your mailbox. They check truly may be on the way.
As always, don't waste your money.
Don't Waste Your Money is a registered trademark of the EW Scripps Co.
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