If you bought a diamond at retail in Pennsylvania between 1994 and 2006, Dec. 20, 2011, was your lucky day. The 3rd U.S. Circuit Court of Appeals that day affirmed the certification of a settlement class that will permit you to claim your pro rata share of a $272.5 million national antitrust settlement for indirect purchasers of diamonds.
But, you might ask, how can this be when Pennsylvania does not provide a private right of action for indirect purchasers claiming antitrust violations? Not to worry. According to the 3rd Circuit in Sullivan v. DB Investments, Inc. , your claim and the claims of indirect purchasers in other states are sufficiently common for you to share in the settlement on an equal footing with individuals who bought their diamonds in states that permit such indirect purchaser antitrust suits. The ruling permits the settlement to extinguish the rights of between 67 and 117 million indirect purchasers of diamonds across the country.
