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What you might have missed
The opening of a class action lawsuit against EGL International and major retailers in early 2015 and the closing of another lawsuit against a retailer for using the lab’s grading reports were among the top stories on National Jeweler last week.
New York--Here are the five most popular stories from NationalJeweler.com for the week of Dec. 14 to 20, according to Google Analytics.
1. Attorney: Grading report class action is coming. In early 2015, a class-action lawsuit will be filed against EGL International and “major retailers,” charging that the lab systematically over-graded diamonds that the retailers then knowingly sold to consumers. There are expected to be between 10 and 20 plaintiffs to start.
2. 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 were settled.
3. Retailer does a diamond take on Apple Watch. Without knowing many specifics about where Apple would sell its smartwatch or final product specifications, Mervis Diamond Importers bolstered its holiday gift guide with a prototype of its own version of the smartwatch bedecked with over 15 carats of diamonds.
4. 5 modern forces that shaped the jewelry industry. In part one of a two-part series, columnist Jan Brassem examines the first two of the five factors that he says have transformed the jewelry industry over the past 35 years.
5. JVC: Be careful about the grading reports you use. The Jewelers Vigilance Committee recently sent out an alert reminding the industry that not only must the diamonds they sell be accurately graded but the grading system disclosed as well.
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