New Diamond Lawsuit against De Beers Were Due To Its Illegal Use of Power
2005: New Diamond Lawsuit against De Beers Is Based On Its Monopolistic Attitude
De Beers has once again failed to respond to a lawsuit and had a default judgement issued against it.
This time the suit was a class action brought by two diamond consumers, Emert and Katie Null of Madison County, according to the Madison-St. Clair Record.
The suit alleges De Beers has a monopoly on the diamond market, which allows it to increase prices, control inventory, limit supply, restrict purchase and falsely advertise the scarceness of diamonds.
The judge will set hearings on class certifications and damages.