Diamond company De Beers has begun to send cheques to direct and indirect purchaser class clients, Diamond News reported cited by Israelidiamond.co.il. According to the agreement De Beers signed with the purchasers, it will give $22.5 million to direct purchasers and $272.5 million to indirect purchases.
The settlement agreement came as a response to a lawsuit brought by plaintiffs in 2001, claiming that De Beers is monopolizing the diamond industry. Specific charges include conspiracy to change diamond prices and the creating of advertisements that are misleading.
Although De Beers has begun to pay purchasers, it denies that it has done anything wrong concerning this incident.
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