Lawsuit Against DeBeers Concludes, DMIA Comments

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News Release DMIA welcomes conclusion of suit against De Beers   New York, New York, USA - August 1, 2013: The Diamond Manufacturers & Importers Association of America (DMIA) said it is pleased to report that the payments to companies that purchased directly from Diamdel and its competitors, which are the result of the settlement of a class action suit against De Beers, were mailed Friday, July 26, 2013. "Matters like these take a long time to be resolved," DMIA president Ronnie VanderLinden said. "Although it took a while, those that had the claims approved are happy to receive the funds. It also signifies the end of an era!" Ronald Friedman, DMIA Past President said: "The DMIA had played a significant role in bringing the suit to a successful conclusion by filing papers in favor of the settlement in the appeal by objectors". "This normalizes business for De Beers in America," David Prager, De Beers' director of communications, was quoted in the July 2013 issue of JCK Magazine. "If you think about the past century, this is a milestone moment." Prager noted that a lot of the past restrictions that De Beers had had previously were now gone. "We have clearly not jumped into America with both feet, and we have resisted contracting with American companies. When you have normalized business in the States, a lot of those things fall away and you have a lot more opportunities." According to the court order approving the distribution of the settlement; the settlement covers a number of class action lawsuits filed around the country, all alleging that "De Beers had monopolized the rough diamond market, charging anti-competitive prices and advertising in a false and misleading way." The order reported that plaintiffs in those cases claimed those that bought diamonds from De Beers between 1994 and 2006 have paid higher prices than they would have in a truly competitive market. Jared Stamell lead counsel said: "I am happy that this cash distribution is being made to members of the industry, many who are DMIA members and the most injured by the anti-competive conduct." About the DMIA The Diamond Manufacturers & Importers Association of America (DMIA), established in 1931, is the leading organization of America's premier diamond manufacturers, importers and dealers. Its mission is to promote the highest standards of ethics, integrity, and professionalism in the American marketplace. DMIA is among the leaders in addressing domestic and world diamond industry issues, and acts as a representative of the American diamond industry with other industry organizations and government bodies. DMIA is dedicated to the advancement and assurance of consumer confidence in diamonds and diamond jewelry.

Ronnie VanderLinden New DMIA President - New Board Installed

DMIA elects Ronnie VanderLinden as new president,  installs new Executive Board and Board of Directors  Ronnie VanderLinden Members of the Diamond Manufacturers & Importers Association of America (DMIA) installed a new board and appointed new directors during the DMIA's General Membership meeting on March 5th. Ronald (Ronnie) VanderLinden was elected president, stepping in the shoes of Ronald (Ronny) Friedman who served as DMIA president for the past nine years. Ronny Friedman Friedman thanked the DMIA members for the support and trust he received during his nine year term. "I've thoroughly enjoyed serving as DMIA president," he said "However, it is time to pass on the baton and I am certain Ronnie VanderLinden will do a great job."

Newly elected president Ronnie VanderLinden said it had been a privilege to work side by side with Ronny Friedman during the past years. "It is my intention to serve the DMIA members the best I can and continue the board's efforts to generate as much as possible added value for the membership at large," he stated.     Addressing Ronny Friedman, he said: "Be assured we will be calling up on you, now you that you're immediate past president. We're not letting you slip away that easily. We'll be needing your input and contribution."   Following is the make-up of the new executive board and board of directors: Executive Board: President                             Ronald VanderLinden Vice President                     Sheldon Kwiat Vice President                     Fred Knobloch Vice President                     Hertz Hasenfeld Vice President                     Saul Goldberg Vice President                     Eli Haas Secretary                             Stuart Samuels Treasurer                            Parag Shah Board of Directors Steve Eisen                         Marvin Finker Ishaia Gol                            Suzette Gomes Manny Gordon                   Jay Greenberg Stan Grosssbard                 Tom Heyman Daniel Kaleko                      Moishe Klein Daniel Klugman                  Melissa Kulhanhian Alan Rehs                            Charles Rosario Matthew Schamroth         Michael Verstandig Ex officio Ben Kinzler  - General Counsel Rick Cohen -  Director of Communications

The Diamond Manufacturers & Importers Association of America (DMIA), established in 1931, is the leading organization of America's premier diamond manufacturers, importers and dealers. Its mission is to promote the highest standards of ethics, integrity, and professionalism in the American marketplace. DMIA is among the leaders in addressing domestic and world diamond industry issues, and acts as a representative of the American diamond industry with other industry organizations and government bodies. DMIA is dedicated to the advancement and assurance of consumer confidence in diamonds and diamond jewelry.     http://dmia.net/