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May 19 De Beers claim deadline

May 15, 2008

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New York—Claims in the De Beers Indirect Purchaser/Reseller settlement must be postmarked on or before May 19, 2008, the Jewelers Vigilance Committee (JVC) has announced.

The JVC continues to provide guidance for resellers who submit claims to the De Beers class-action settlement fund. Any questions or concerns regarding this guidance should be sent to jvcquestions@aol.com. For a link to the claim forms and the full guidance information on filing a claim, visit Jvclegal.org.

The case against De Beers began with a series of lawsuits alleging that the company charged anti-competitive prices for rough diamonds, monopolized the market and disseminated false and misleading advertising.

The $295 million will be divided among direct and indirect purchasers, with the majority of retail jewelers falling into the latter class.

Indirect purchasers in this case are defined as those who bought diamonds from someone other than De Beers or one of its mining competitors between Jan. 1, 1994-March 31, 2006.

The size of each individual settlement is contingent on how many people file a claim.

Editor's note: For earlier developments in this story, see Judge to approve De Beers class-action settlement.
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