Tag: De Beers

De Beers settlement attack rebuffed

April 20, 2012 by

Objectors to a huge settlement with De Beers filed a petition for certiorari with the U.S. Supreme Court challenging the settlement.  On April 2, 2012, the U.S. Supreme Court denied a petition for certiorari filed by members of the indirect purchaser class in the De Beers class action lawsuits.  A second petition for certiorari filed

De Beers settlement will have impact on indirect purchaser antitrust claims

January 19, 2012 by

I previously reported on this blog that the Third Circuit had approved a settlement of the De Beers antitrust class action.  This new decision will be especially important in indirect purchaser antitrust cases because some states’ antitrust laws allow indirect purchasers to sue, but others restrict suits to direct purchasers.  Now a defendant can settle

Third Circuit upholds $295 million settlement in De Beers antitrust class action

January 11, 2012 by

The U.S. Court of Appeals for the Third Circuit issued an opinion upholding the settlement in the class action litigation against the South African company De Beers, the world’s largest diamond supplier, for allegedly conspiring to monopolize the sale of rough diamonds. The appellate court affirmed an order by U.S. District Judge Stanley R. Chesler

$295 million class action antitrust settlement vacated

July 30, 2010 by

The plaintiffs and defendants reached a settlement in a class action lawsuit against De Beers S.A., and several related entities, and the U.S. District Court for the District of New Jersey approved the $295 million settlement.  The complaint alleged that De Beers fixed prices in the market for rough gem-quality diamonds by, among other things, executing output-purchase agreements with competitors, establishing