Helzberg Diamonds has apparently settled a suit from a
consumer over the description of its Helzberg Masterpiece diamonds, according
to court papers filed July 27.

“The parties have reached an agreement in principle to
resolve this lawsuit,” the papers said. “The parties are in the process of drafting the formal settlement
agreement and related documents. “

The motion for preliminary approval of the settlement will
be filed in 30 days, the papers added.

The class action complaint, filed Jan. 3 by California
citizen Sara Khaliki, alleges that the “Masterpiece” stones advertised by
Helzberg Diamonds as being “hearts and arrows” cuts are actually princess cuts
that do not show that pattern. Helzberg has denied that any of its
claims were misleading.

JCK