The complaints charged that De Beers had created a global cartel in the markets of rough and polished diamonds – with a market share that reached nearly as high as 90% – through aggressive management of supply and prices, and collusive agreements with competitors, suppliers, and distributors.
[2] On April 14, 2008, the Court conducted a fairness hearing and on May 27, 2008, granted final approval to the settlement.
[4] Commenting on the case, plaintiff's counsel Eric B. Fastiff of Lieff Cabraser stated that De Beers' offer to settle "showed that our strategy was correct.
If you put litigation pressure and represent your client vigorously, eventually a guilty defendant will recognize that it needs to resolve its problems.
Pursuant to an Order of the Court, Initial Distribution checks were mailed to Authorized Reseller Claimants on August 31, 2012.