Sightholder Lawsuit Charges Unfair Loss of Sight

Former sightholder W.B. David has launched a blistering lawsuit against its one-time supplier De Beers, seeking $100 million in damages stemming from its loss of sightholder status last year. Also sued were all 84 De Beers sightholders, all the sightholders' accountants, De Beers' U.S. ad agency J. Walter Thompson, JWT trainer (and former W.B. David consultant) Diane Warga-Arias, De Beers' subsidiary Diamdel, and most of De Beers' top management, including chairman Nicholas F. Oppenheimer and managing director Gary Ralfe. The 140-page suit charges De Beers and the other defendants with antitrust violations, racketeering, fraud, unfair competition, breach of contract, and defamation, among other things. At the lawsuit's heart is the claim that W.B. David, a sightholder from 1969 to 2003, unfairly lost that status during last year's launch of "Supplier of Choice." David "more than sati
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