2005

Default Judgement Against De Beers

June 2005

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.