Attorneys represented plaintiffs in a class action suit and Jewelry Television issued a joint statement saying they have reached a settlement in the case concerning the disclosure of andesine-labradorite.

In the lawsuit, Hurd v. America’s Collectibles Network, Inc., d/b/a/ Jewelry Television, No. 225508, plaintiffs have alleged that red and green andesine-labradorite gemstones advertised by JTV as highly coveted, extremely rare, and all natural, were in reality color enhanced, the statement reads.

“JTV has denied, and continues to deny, all allegations of wrongdoing and liability made in the lawsuit, and asserts that the representations it made about the gemstones were properly based on industry literature, representations and information from its suppliers, and gemstone laboratory reports from nationally accredited laboratories,” according to the statement.

A spokesperson for Coleman and Edwards, P.C., Knoxville, Tenn., one of the two law firms for the plaintiffs, (the other is Wexler Wallace LLP, Chicago), told JCK that a Web site that displays the joint statement has been provided as part of the settlement agreement. Click here. Lead attorneys for the firms were unavailable for comment.

In the settlement, JTV did not admit to any wrongdoing. The company said in the statement that “settling the case rather than facing the continued cost and disruption of fighting a potential class action was in the best interests of the company, and would allow JTV to move forward with its continued commitment to its customers.”

The statement went on to say that the plaintiff attorneys and their clients determined that the agreement is in the best interest of those who purchased andesine-labradorite from JTV during the period defined in the suit, “because it affords class members the opportunity to submit claims for cash refunds and JTV store credits.”

The statement adds, “The settlement also provides for disclosures, consumer education, and training for JTV employees to make sure that future marketing of andesine-labradorite complies with all relevant rules and regulations.”

JCK