FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
GradingDec 14, 2014
Remaining lawsuits filed over EGL reports are settled
The three remaining lawsuits filed against Tennessee retailer Genesis Diamonds over its use of EGL International grading reports have been settled.
New York--The three remaining lawsuits filed against Tennessee retailer Genesis Diamonds over its use of EGL International grading reports have been settled.
Brian Cummings, the Nashville, Tenn.-based attorney representing the three individuals said Friday that the suits were resolved and dismissed. The terms of the settlement are confidential, though Cummings said his clients were “very satisfied” with the outcome.
Cummings’ clients, M. Nathaniel Averitt, Richard Vien and Allan (A.J.) Zyla Jr., sued retailer Genesis Diamonds LLC and its owner Boaz Ramon earlier in the year, alleging the retailer intentionally confused consumers about the difference between “inferior” EGL International-graded diamonds and those graded by the Gemological Institute of America.
“Genesis Diamonds’ business practice for many years has been to offer inferior-quality EGL International diamonds as equivalent to GIA certified diamonds. Genesis employees and sales staff falsely claim that the only difference between diamonds certified by the two laboratories is ‘the price,’” the lawsuit states. “By doing so, Genesis is able to claim it is offering a diamond ‘at wholesale pricing’ when, in reality, it is simply selling an over-graded stone that it acquired at a steep discount comparable to a GIA diamond.
“The practice allows Genesis Diamonds to simultaneously reap a profit margin that would not be possible selling legitimately-graded GIA diamonds, while falsely claiming they have saved the customer money.”
In his lawsuit, Averitt stated that he bought cufflinks with 3-carat diamonds that were both color graded as G but later re-evaluated as M and N color diamonds. He also bought a diamond eternity band with diamonds graded as F that later were re-evaluated as J color stones. Both pieces appraised at a significantly lower price than Averitt originally was led to believe, the lawsuit states.
Vien and Zyla had a similar experience with diamond engagement rings, court papers show.
Eli Richardson, the attorney representing Genesis Diamonds, also confirmed the settlement but did not provide a comment on behalf of the retailer.
The lawsuits brought by consumers in Tennessee was one of the major factors that touched off a recent chain of reactions to a problem that has long been simmering--over-graded diamonds.
In October, Martin Rapaport removed all EGL-graded diamonds from his diamond trading network, RapNet.
Just last week, news surfaced that the owners of the EGL brand (meaning EGL labs outside the United States; EGL USA is separate and not affiliated) had appointed a new global manager
Editors' Picks
Sponsored by
to clean up the lab’s practices and would no longer be using the EGL International brand name.
More on Grading
The Latest
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
MajorsAug 04, 2025
Borsheims Welcomes New Assistant Facilities ManagerXavier Dibbrell brings more than a decade of experience to the role.
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet JewelersThe addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.
MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ NecklaceThe necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.
SourcingJul 31, 2025
De Beers Records $189M First-Half Loss The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award WinnersJewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.
