JA assists members in De Beers settlement
January 11, 2008

New York—Jewelers of America (JA) has released three guidance documents to assist its members in answering consumer and media questions on the De Beers Indirect Purchaser/Reseller class-action settlement.

The three one-page documents cover background on the case itself, guidance on how to answer consumer questions and guidance on how to answer media questions. Members can access the documents at JA’s Web site, Jewelers.org, in the Members Only area.

“With the release of information about the De Beers settlement to consumers and the media, Jewelers of America wants to assist our members in answering the public’s questions,” JA’s President and Chief Executive Officer Matthew A. Runci said in a media release. “Jewelers of America and its counsel have had significant involvement in commenting on the De Beers settlement process and timing since it began several years ago, and we now want to ensure that our members are prepared too.”

JA said the De Beers settlement notices will continue throughout the winter and early spring, with the notice campaign expected to reach 87 percent of the consumer settlement class, which is defined as adults 18 and over with a household income above $50,000.

Because the claims process will require consumers to itemize the amount of their diamond-jewelry purchases, consumers may ask retailers to research the purchase price of any diamond or diamond jewelry they obtained at their stores between Jan. 1, 1994, and March 31, 2006. In addition, consumers may need information on where to go to file a claim, object to or opt out of the proposed settlement. JA’s guidance documents are designed to provide jewelers answers to these questions.

For more information about the De Beers settlement, call (800) 760-5431 or visit the Diamond Class Action Settlement Web site, Diamondclassaction.com.

Editor’s note: For related news, see JVC further advises in claims process.