This week’s DMIA meeting featured an update on the De Beers anti-trust settlement…
As we know, the original settlement has been appealed (not by De Beers, which agreed to the original settlement). The appeal has been argued and a verdict is expected within 30 to 60 days. Yet, even if the original agreement is upheld, the lawyers warn it could be appealed further, possibly to the Supreme Court. And if it’s not upheld, it’s back to the drawing board.
Still, I think it is a safe assumption that the case is winding down, and the $300 million settlement could be distributed this year. I am just warning everyone: Don’t expect a lot of money. That is going to the lawyers.
By the way, the two police officers who spoke at the meeting were excellent, and, if you missed them, I recommend seeing them at the Diamond Dealers Club May 5.
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