April 3, 2012

Supreme Court Denies Petition in
DeBeers Class Action Law Suits

 Previous Decision of the Third Circuit Upholding Settlement is Reinstated

New York City, April 3, 2012 – The JVC (Jewelers Vigilance Committee) has been notified that on April 2, 2012, the U.S. Supreme Court denied a petition for certiorari filed by members of the indirect purchaser class. A second petition for certiorari filed by another member of the indirect purchaser class is still under consideration by the Supreme Court.    

The denial of this petition means that the previous decision of the “en banc” Third Circuit Court of Appeals denying the class members’ attacks on the settlement will be reinstated.

Payment of claims will likely be delayed until the Supreme Court acts on the second petition for certiorari.

Watch JVC’s website – www.jvclegal.org – for any further developments.

Jewelers Vigilance Committee, founded in 1917, is a not-for-profit legal trade association fulfilling it’s mission to maintain the jewelry industry’s highest ethical standards. JVC offers dispute mediation and arbitration services for trade and consumers, compliance monitoring and precious metals testing, among many other services. JVC, long considered the industry’s guardian of ethics and integrity, is a resource for the entire jewelry industry and its customers as well as an industry representative before government agencies, media and adjunct fields. For more information visit: www.jvclegal.org.

 #                      #                      #