In new diamond jewelry industry news, a total of twelve women have filed a class action lawsuit against Signet's U.S. subsidiary, Sterling Jewelers. The lawsuit is over discrimination and harassment. Initially reported by The New York Times.
Sterling Jewelers, operates 1400 jewelry stores across the United States, including the traditional jewelry chain stores. Such as Jared The Galleria of Jewelry and Kay Jewelers. The company employs approximately 44,000 women.
The plaintiffs claim to have attempted to resolve their complaints in-house with supervisors as well as Sterling's internal dispute resolution program. Furthermore, New Jersey's Department of Law and Public Safety determined that jeweler "knew or should have known" about the harassment and that its policies were ineffective. The Equal Employments Opportunity Commission also known as the EEOC filed a suit against Sterling in 2008.
A federal judge dismissed the Equal Employments Opportunity Commission claiming that the commission had not made a broad enough case to justify a class action lawsuit. Also, the current suit, former and present Sterling employees will detail instances of discrimination.
Kelly Contreras claimed that she was paid $35,000 a year for her job as store manager while her husband, another store manager, was paid an annual salary of $55,000. She claims they both have had a similar experience with respect to management. A spokesperson for Sterling Jewelers one David Bouffard said that the company had investigated the allegations brought in previous suits and found them to be "without merit."
Diamond Jewelry Industry Losses
Jewelry and Diamond Industry News. An increase of 10.5 percent on the year to $66.5 million in 2013. The president of the Jewelers Security Alliance, John Kennedy, noted that the increased sharing of crime information by the diamond jewelry industry with the FBI and local law enforcement has played a major role in this progress.
Unit chief for the FBI's international organized crime task forces, Eric Ives, told Rapport News that the global authorities are observing the Kimberley Process certificate laundering, in which rough diamonds are removed from their original location and presented for the first Kimberley Process certificate in another country. These diamonds are then transferred to yet another country for a second Kimberley Process certificate in another country. The purpose of this is to show that the parcel's country of origin is mixed.
Leviev Wins Big Over Angola Deal
Jewelry and Diamond Industry News. Arkady Gaydamak lost the latest stage is to billion-dollar battle. London's High Court against his former business partner, Lev Leviev. The two billionaires have been at odds 2001 over ownership of their diamond venture in Angola. With Gaydamak claiming he agreed for Leviev to be the public face of his have of their diamond business in Angola. At the same time keeping his own 50% stake a secret.
Both Leviev and Gaydamak sign a contract that Russia's Rabbi Berel Lazar For safe keeping. In 2012, the first case heard was Leviev denied there was any agreement. However, the judge did not believe Leviev. Furthermore, he also found against Gaydamak signing a settlement with Angolan officials under false pretenses.
Gaydamak, while all, brought another case, this time including the Angolan officials. He claims Leviev had breached the trust from the original 2001 deal. The Justice held that the settlement agreement still stood. Gaydamak is in trouble in France for supplying arms to the Angolan government during their Civil War. He remains a fugitive from France.
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Diamond Jewelry Industry news.