Canadians who got engaged or bought diamond jewelry seven or more years ago could benefit from a massive class action lawsuit.
A settlement has been reached with several diamond and mining companies, including De Beers Canada Inc., after a class action lawsuit accused them of conspiring to “fix the prices of gemstone diamonds sold in Canada.”
The $9.4 million settlement was approved by the courts, meaning the lawsuit has begun.
So you could get a piece of this huge settlement.
If you purchased a gem-quality diamond in Canada between January 1, 1994 and October 14, 2016, you could be entitled to class action compensation totaling approximately $9.4 million.
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Who can make a claim?
According to the class action lawsuit, anyone (buyers and resellers) who purchased gemstone diamonds in Canada between January 1, 1994 and October 14, 2016 could receive some cash.
Gemstone diamonds are defined in the class action lawsuit as “diamonds that were or could have been used in diamond jewelry or for investment purposes.”
This refers to rough diamonds, polished diamonds, diamond jewelry or other products that consist of or contain one or more gemstone diamonds.
Products with artificial or industrial diamonds are excluded.
If you are eligible for this settlement, you can claim the money at www.canadiandiamondsclassaction.ca.
How much could you get from the severance package?
Canadians can make one of two types of claims.
You can receive an administrative payment of at least $20 without having to provide proof of purchase.
If you want to claim more than $20, you must provide proof of purchase, such as: B. a credit card statement, a bank statement, a check confirmation, a transfer confirmation or proof of insurance.
The amount of money Canadians can receive from the second type of claim will be assessed based on your gemstone diamond purchases and whether you are a consumer or a reseller, according to the class action lawsuit. Further details can be found here.
If you are eligible, be sure to submit your claim before the February 6, 2024 deadline.