IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
SourcingJan 07, 2014
Court tosses WB David claim against De Beers
A federal judge in New York has dismissed W.B. David & Co. Inc.’s lingering claim in its 10-year-old case against De Beers’ rough diamond sales arm, the last outstanding antitrust case against the diamond miner and marketer in the United States.
New York--A federal judge in New York has dismissed W.B. David & Co. Inc.’s lingering claim in its 10-year-old case against De Beers’ rough diamond sales arm, the last outstanding antitrust case against the diamond miner and marketer in the United States.
On Monday, U.S. District Judge Kimba M. Wood ruled that the now-bankrupt diamond company failed to prove that the sightholder system of De Beers’ Diamond Trading Co. (DTC) constituted a monopoly and constrained sightholders’ business practices.
She ordered the case dismissed with prejudice, meaning it cannot be reopened.
De Beers said in an emailed statement that it welcomed Wood’s decision, and noted that the judge also denied a request to file another amended complaint and ordered the case closed, marking the end of the last antitrust suit against De Beers in the U.S.
Yann Geron, one of the attorneys representing the Chapter 7 bankruptcy trustee now handling the estate of W.B. David & Co., did not respond to request for comment made late Tuesday.
According to background provided in court documents, New York-based diamond company W.B. David was a De Beers sightholder for more than three decades, from 1969 until it was dropped in 2003.
In 2004, W.B. David filed a $100 million lawsuit against a total of 90 defendants, including De Beers and the DTC. Counts included in the original complaint were racketeering, violation of antitrust laws and unfair competition, among many others.
Over the years, the case was whittled down and, along the way, W.B. David was forced into bankruptcy, leaving its trustee to head the case.
In 2011, the case was thrown out of court entirely but the Second Circuit Court of Appeals in New York later ruled that one claim, the “sight claim” could proceed, court papers show.
The claim alleges that the sight system of the DTC, as well as its predecessor, CSO Valuations, violated antitrust laws and that De Beers and its diamond brokers conspired to control sightholders’ business practices. It was, W.B. David contended, an “unlawful vertical restraint, and that W.B. David incurred damages by purchasing rough diamonds from [the Diamond Trading Co.] at artificially inflated prices.”
In her ruling issued Monday, Wood stated that the sight claim does not adequately allege a conspiracy resulting in an unreasonable restraint on trade nor does it prove the sightholder system was a monopoly.
“Even assuming defendant possessed monopoly power
Editors' Picks
Sponsored by
in the relevant market, the sight claim does not allege that defendant’s sight system was anticompetitive,” court papers state. “No assertion is made, for instance, that the sight system excluded potential competitors or impaired the opportunities of rival firms.”
The judge said the factors W.B. David said made the sight system harmful to competition--the fact that only certain companies were selected as sightholders, rough diamonds were pre-selected and sightholders were forced to take their boxes and communicate through brokers--do not suggest exclusionary or anticompetitive conduct.
“As a general rule, businesses are free to choose the parties with whom they will deal, as well as the prices, terms and conditions of that dealing,” the ruling states.
In May 2008, De Beers reached a $295 million settlement in the huge antitrust case brought against it here by diamond purchasers, including retailers, wholesalers and consumers.
Purchasers accused the diamond giant of monopolizing supply and conspiring to fix prices. De Beers admitted no fault in the settlement, and the closure of the antitrust case opened the door for De Beers to operate openly in the U.S. market.
Due to numerous appeals, payouts in the case were still continuing as of last year.
More on Sourcing
The Latest
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
