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.

Forevermark Announces 'The Center of My Universe' Television Plan

This Christmas holiday season, Forevermark, the diamond brand from the De Beers Group, will bring a powerful commercial to national television. Forevermark previously announced plans to develop a commercial centered on its new ''The Center of My Universe™''concept, made available to all Forevermark retail partners.

Now Forevermark will be running the commercial on a brand level through a national television plan. Through network and cable channels, the commercial will reach affluent men and women during premium programming from mid-November until Christmas. The commercial will also be featured in a variety of high-impact digital video placements, including Full Episode Players and top network websites.

In addition, The Center of My Universe from Forevermark brand campaign will include national newspapers, magazines, other online advertising outlets, social media support, website features, in-store materials, and public relations. Announced at JCK Vegas, Forevermark will launch The Center of My Universe during the fourth quarter.  The product concept provides a twist on a classic design that has been trending upward over the past several years: the halo setting.

The Center Of My Universe will create a unique emotional focus, meaning and relevance around this design motif that is anchored in the strength and brilliance of one central Forevermark diamond. The Center of My Universe concept celebrates her - the unique, beautiful woman he loves who is the central force in his life, holding together and keeping in motion the many different aspects of the universe they share.  She is his everything – the center of his universe.

Forevermark officially launched in the U.S. consumer marketplace in Fall 2011 with support from Forevermark Diamantaire partners including Dali Diamond Company/A. Link, Diarough/Emby International-Uni Design, Eurostar Diamonds International, HRA-Crossworks, Julius Klein Group/Ritani, Leo Schachter Diamonds, Pluczenik Diamond Company, Premier Gem, Rosy Blue, Trau Bros, and Venus Jewel, and Forevermark Manufacturers A. Jaffe, H.J. Namdar, Memoire, Rahaminov Diamond, SES Creations and VJ Designs. Forevermark is available in a variety of independent jewelers nationwide.

Source: Press Release - Forevermark