Judge orders payouts in De Beers case
- Blog Post by: Brandon Stahl
- May 21, 2013 - 4:34 PM
Almost two weeks ago Whistleblower reported that numerous consumers in a class action lawsuit filed against diamond seller De Beers have waited years for their restitution.
Last week, a federal judge in New Jersey, Stanley Chesler, approved a plan to distribute about $108 million of the $295 million De Beers paid to settle the claim. About $900,000 of that will go to the firms that helped settle the lawsuit for fees and expenses.
The average payout to consumers: about $180, according to a memorandum submitted to the court.
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