De Beers Settles Price-Fixing Suit

De Beers recently paid $20 million to settle a 1995 civil suit over industrial diamond price fixing, the London Times reported. The settlement does not affect the Justice Department's 1996 criminal indictment of De Beers on similar charges. Co-defendant General Electric was cleared of all counts, but since De Beers never answered the indictment, it still stands. In a teleconference with analysts, De Beers managing director Gary Ralfe reiterated that De Beers was hoping to settle its legal problems in the United States. "We would very much like to be able to settle the criminal indictment because it is not desirable for a company of our standing, prestige, and integrity to have an indictment hanging over it in the United States," he said. "But that is a matter that we have not yet addressed." In related news, two congressmen recently called upon the government to get its "act togeth
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