A certified national settlement has been reached with the De Beers Defendants that resolves all of the Canadian certified diamonds class actions regarding Gem Grade Diamonds. The De Beers Settlement was approved as being fair, reasonable and in the best interests of the class by the Ontario Court, the BC Court, and the Quebec Court. It is a condition of the De Beers Settlement that the Saskatchewan Court dismiss or permanently stay a class action proposed in Saskatchewan regarding Gem Grade Diamonds (Daniel Ammazzini and Olson Goldsmiths Inc. v. Anglo American PLC et al., Saskatchewan Court, File No. 877, Saskatoon Registry). That application will be scheduled once the parties are advised of the availability of the Court.
The De Beers class action was commenced on behalf of residents of British Columbia who purchased a Gem Grade Diamonds (as defined in the Statement of Claim) in British Columbia from February 22, 1997 to the present. It is alleged that De Beers has engaged in a series of anti-competitive acts which have virtually eliminated competition, allowing De Beers to charge artificially inflated prices for its diamonds.
The jurisdictional issue was appealed to both the British Columbia Court of Appeal and the Supreme Court of Canada without success. The plaintiff’s application to certify the action was heard on April 7 – April 9, 2014. The class action was certified by Madame Justice Brown on December 2, 2014.
An updated statement of claim was filed on December 2, 2014 in the De Beers class action commenced on behalf of residents of Canada (excluding British Columbia) who purchased Gem Grade Diamonds (as defined in the Fresh as Amended Statement of Claim) between February 1, 1994 to December 31, 2011.
To access the court documents, click on the links below:
For further information concerning this action, please contact Natalie Fulton at 1-800-689-2322 or 604-689-7555, or email [email protected].
De Beers Settlement - View
De Beers – Certification Granted - View
De Beers Class Action: Jurisdictional Issue Appealed - View