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Tiffany Blue Box
Judge Tells Costco to Pay Tiffany $19M
Costco Wholesale Corporation must pay Tiffany & Co. atleast $19.35 million in damages after selling counterfeit diamond rings bearingthe iconic jeweler’s name, a US federal judge ordered last week.US District Judge Laura Taylor...
Retail Aug 20, 2017 Rapaport News
Simandou mine
Beny Steinmetz Detained in Fraud Probe
Israeli police arrested diamond magnate Beny Steinmetz onMonday in connection with an investigation into alleged fraud and moneylaundering, according to media reports.Steinmetz was one of a handful of public figures held forquestioning over the alleged crimes,...
Financial-Legal Aug 15, 2017 Rapaport News
Antwerp Diamond Fair
Antwerp Traders Face Random Compliance Probes
Belgian inspectors are checking diamond companies’ offices atrandom, the latest in a series of inspections to prevent money laundering, theAntwerp World Diamond Centre (AWDC) has confirmed.Inspectors from Federal Public Service (FPS) Economy — theBelgian equivalent...
Rough Markets May 09, 2017 Rapaport News
dave bonaparte
US Jewelers Welcome ‘Tax-Fairness’ Bills
Jewelers of America (JA), a jewelry retail representativebody, has hailed the advancement of two tax bills that it says would put onlineretailers on an equal footing with their brick-and-mortar counterparts.The two pieces of legislation — the Remote TransactionsParity...
Financial-Legal May 07, 2017 Rapaport News
Tiffany Stevens Jewelers Vigilance Committee JVC
JVC Names Tiffany Stevens as CEO
The Jewelers Vigilance Committee (JVC) has appointed TiffanyStevens as president and chief executive officer, replacing Cecilia Gardner,who has served in the role for 18 years.Stevens (pictured) will take up the position on March 6, the legaladvisory...
Financial-Legal Mar 01, 2017 Rapaport News
jewelry
RJC Unveils New Self-Assessment Guide
The Responsible Jewellery Council (RJC) introduced anupdated self-assessment workbook in a revised format that provides extraguidance to help members understand its code of practices.The group, which monitors sourcing practices in the jewelry market, explained the...
Financial-Legal Feb 01, 2017 Rapaport News
Ellendale Mine
Top Exec at Kimberley Diamonds Quits
Kimberley Diamonds’ executive director Rod Sainty resignedfrom the miner’s board, effective Tuesday.Sainty was one of three directors who were sued for $17million by liquidators at the Australian insolvency firm Jirsch Sutherlandover allegations, including...
Mining Aug 16, 2016 Rapaport News
Kay
Lawyers Target Signet Over Share Price Slump
Signet Jewelers is facing potential class actions initiatedin the past two weeks by three law firms which allege the retailer may be inviolation of federal securities laws. Despite the controversy, Nomuramaintained its buy rating...
Retail Jun 14, 2016 Rapaport News
kay
Signet Refutes Allegations of ‘Diamond Swapping’
Signet Jewelers denied allegations that its employees“systematically” switch more expensive diamonds for lower-quality gems followingclaims the jeweler repeatedly engaged in diamond “swapping.”Signet shares slumped 19 percent between May 25 and the market close...
Retail Jun 05, 2016 Rapaport News
Cecilia Gardner
Cecilia Gardner to Step Down as JVC Chief in 2017
The Jewelers Vigilance Committee (JVC) said its longstandingchief executive officer and president, Cecilia Gardner (pictured), will step down at the beginningof 2017.Gardner’s exit will follow JVC’s planned celebration forcompleting 100 years....
Financial-Legal Apr 05, 2016
Ernie Blom
WFDB to Launch-Know-Your Customer Program in May
The World Federation of Diamond Bourses (WFDB) will launchits Know-Your-Customer (KYC) initiative in May, aimed at increasing transparency inthe industry to banks and regulators.The announcement was made at the WFDB’s Asia Summit held in Seoul,where presidents...
Polished Markets Mar 07, 2016 Rapaport News
Pandora
Pandora ‘Acquitted’ in Court Case over Company Announcements
Pandora said it had been acquitted on all accounts by theEastern High Court in Copenhagen in a case relating to the Denmark-basedjeweler’s downward adjustment of revenue growth expectations in August 2011.The district court in Glostrup, Denmark, found thecompany should have...
Financial-Legal Feb 25, 2016 Rapaport News
Israel
Israel Demands $1M from Diamond Firms for Breaching Terms of Grant
Israel’s Civil Enforcement Unit sued companies from theSamuel-Rozenbaum group for approximately $1.3 million (NIS 5 million) forallegedly breaching the terms of a public grant. The group includes variousdiamond businesses. The claim arose from...
Financial-Legal Jan 27, 2016 Rapaport News
Chidliak Project
BHP Billiton, Peregrine Settle Litigation & End Chidliak Royalty Deal
BHP Billiton Canada (BHPB) settled litigationwith Peregrine Diamonds and ended a royalty agreement with the diamond minerrelated to the Chidliak project in Canada.Under theroyalty arrangement, Peregrine had granted BHPB 2 percent of future mineralproduction, including...
Financial-Legal Jan 25, 2016 Rapaport News
IIa Technologies
IIa Technologies Denies Infringement of Element Six Patents, Vows to Fight Claims
Lab-growndiamond producer IIa Technologies denied it infringed on patents owned by a DeBeers company and vowed to “challenge the validity” of the patents.Pledging to defend itself against claimsfrom De Beers synthetics business Element Six, Singapore-based IIa said itis...
Financial-Legal Jan 24, 2016 Rapaport News
blue nile logo
Blue Nile, Atit Settle Litigation with Three Plaintiffs over Cushion-Cut Diamond
A lawsuit in the U.S. against online diamond retailer BlueNile and polished diamond supplier Atit Diamond Corporation has been settled.Blue Nile and Atit were defendants in litigation in the U.S.District Court for the Southern...
Financial-Legal Jan 21, 2016 Rapaport News
JVC
Jewelers Vigilance Committee Publishes Quality-Assurance Guide
The Jewelers Vigilance Committee (JVC) has published aguide that helps jewelers ensure the products they sell comply with the law.“Getting It Right – JVC’s Guide to Quality Programs forJewelers,” published with a grant from...
Financial-Legal Jan 13, 2016 Rapaport News
Element Six
De Beers Subsidiary Starts Legal Action Against IIa Technologies for Patent Violation
ElementSix, De Beers' synthetics business, began legal action January 12 in Singapore against IIa Technologies,alleging an infringement of patents.Some patents for proprietary synthetic diamondproducts and their manufacturing method have been infringed, in particularSingapore patent numbers 115872...
Financial-Legal Jan 13, 2016 Rapaport News
Israel Diamond Exchange
Receivership Order Issued on Israeli Diamond Veteran Uri Schwartz
Areceivership order was issued for assets owned by the former Israel DiamondManufacturers Association (IDMA) president Uri Schwartz following unpaid debtof more than $2 million (NIS 8 million), local daily Globes reported January 10.Israel-basedBank...
Financial-Legal Jan 11, 2016 Rapaport News
Lazare Kaplan Inc
Lazare Kaplan Subject to SEC Action over Failure to Submit Filings
The Securities and Exchange Commission (SEC) has filedadministrative proceedings against Lazare Kaplan International Inc. alleging theNew York diamond manufacturing firm failedto submit periodic reports since February 2009.TheSEC alleges Lazare Kaplan...
Financial-Legal Dec 31, 2015 Rapaport News
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