De Beers to Face Price Fixing Lawsuit after Court Rejects Jurisdiction Claim
June 09, 11(IDEX Online News) – A
Judge Brenda Brown rejected the defendants' jurisdiction plea that states that De Beers does not operate in B.C., according to various media reports.
Michelle Fairhurst, a resident of Squamish, B.C., filed the lawsuit alleging the defendants suppressed and eliminated competition in B.C.'s diamond trade by fixing the price of diamonds at artificially high levels, harming buyers as a result.
"The plaintiff has properly pleaded harm in
De Beers spokeswoman Lynette Gould told IDEX Online, "We consider the claim to be wholly without merit and will defend rigorously if it comes to it."
A long list of De Beers and related companies are listed as defendants. They include Anglo American PLC, Central Holdings Limited, S.A., De Beers Canada Inc., DB Investments, Inc., De Beers S.A., De Beers Consolidated Mines Ltd., The Diamond Trading Company Limited, CSO Valuations A.G. and De Beers Centenary A.G.