No End in Sight for De Beers Antitrust Settlement

An en banc panel of nine judges on Feb. 23 heard arguments
about the De Beers antitrust settlement, but it will take six to 10
months for them to rule, according to attorneys involved in the case.

“If [the settlement is] affirmed and, there is no further
appeal to U.S. Supreme Court, the settlement will become final and settlement
proceeds can be distributed likely before the end of 2011,” plaintiff attorney
Joseph J. Tabacco tells JCK.

However, if the nine judges call for “more work” to be done, or
if there are other appeals, it could add a year or more to the process, Tabacco says.

De Beers first settled the $295 million antitrust claim in
2005. However, objections from other parties have prevented the money from
being distributed.

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