Ok, here’s one you CAN forward without looking like an idiot. This is legit. It’s common knowledge that DeBeers has cornered on the diamond market for ages. They’re finally ponying up. In settlement of the class action lawsuit, you can get up to 59% refund on all diamonds you purchased from 1994-2006.

Here’s an article from MSN. The settlement site is at the bottom.

How would you like a little refund on that diamond nose stud you bought in your wilder days? Or the diamond engagement ring you purchased for your sweetie when you settled down?

If you bought a piece of diamond jewelry — or jewelry with a diamond in it — between Jan. 1, 1994, and March 31, 2006, you may be eligible for a refund as part of a recent settlement of a class-action lawsuit alleging that De Beers, the big South African diamond company, had cornered the market for diamonds for decades, keeping prices artificially high.

In settling, De Beers is shelling out $295 million to put the trouble behind it — $135 million of which is earmarked for consumers rather than wholesalers.

“While we don’t accept the allegations, we do believe that settling this suit is in the best interests of our clients, our shareholders and consumers,” De Beers says in a statement on its Web site.

How refunds are calculated
Your share, if any, will be small. Everyone has to split the pot, so the size of each refund depends on how many other consumers file claims, and for how much. There could be hundreds of thousands — even a million — consumer claims, says Joseph J. Tabacco Jr., the managing partner at Berman DeValerio Pease Tabacco Burt & Pucillo in San Francisco. He’s one of the lawyers behind the lawsuit.

Theoretically, a $10,000 diamond ring is eligible for a $4,500 refund. But realistically, lots of competing claims will dilute that payout considerably. There’s no way of knowing yet how big a refund the $10,000 purchase could bring, says Tabacco.

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