In its press statement, De Beers announced that it is pleased that Judge Chesler has issued his written opinion, and entered an order, approving the Settlement in the Diamond Class Actions in the United States.

Several suits were filed against the company in 2001, in the US state and federal courts, which stated that De Beers has been holding an unjustified and unlawful monopoly in the supply of diamonds, fixing, raising, and controlling the diamond prices, and issuing false and misleading advertisements. Such was stated on the company’s official website www.diamondsclassaction.com.

De Beers further said, “We believe that settling these Class Actions has allowed us to put these matters behind us, and is in the best interests of our shareholders, our clients and, most importantly, consumers’ confidence in diamonds”.