The Stein Diamonds lawsuit is still fresh in everyone’s mind. To most of America, this famous diamond is synonymous with fraud. It was known then as the Pink Lady. Since the episode, there have been several people who lost their lives to this diamond and now it has come to a settlement. A lot of people have lost their lives because they believed that this was a very good deal, but they were actually committing fraud.
The story starts many years ago, several people had different experiences with the Pink Lady diamond.
One had even bought it from a discount store. When he brought it home, it was broken. Later on, he went back to the store and said that the stone in his bag was a fake. After this, several lawsuits began against the store that sold the diamond at very low prices.
During this time, a number of rumors spread and this became even more popular. Several people claimed that the diamonds were fakes.
Some even went as far as saying that they did not even exist. Because of this, the company had to change their name and they became the “Pink Lady” Diamonds. However, the name did not change because of the fraud. Instead, the company changed their name back.
In order to clear their name, they went up against the United States Patent and Trademark Office. On April 27th, they filed a lawsuit against the USPTO. The complaint stated that the USPTO had no right to the “Pink Lady” name because it was a fraud.
This was not the first time that the USPTO had to deal with this company.
There had also been a claim that they stole diamonds from a South African company. This too led to the cancellation of their trademark. In fact, in the last few months, they have tried several other techniques to get the USPTO to drop the lawsuit.
As of this writing, the Stein Company has yet to file their answer to the complaint. They have, however, offered to settle the case for a very large sum of money. Unfortunately, most people who have bought diamond jewelry from these stores are not able to afford such a large amount of money. It is possible that the damages that will be awarded in this case will not be as substantial as the original amounts. For this reason, most people are not putting too much stock into the lawsuit.
Some people feel that if this case does go to court that it may open the floodgates for other diamond fraud. If this is true, then this could become a huge problem for retailers who want to continue selling diamonds in the future. If there was a flood of cases like this, then consumers would have less confidence in purchasing diamonds from the diamond industry. This would hurt all retailers and send sales down.
There have been no serious accidents resulting from using substandard diamonds.
The Steins have been around since 1903, so they are a relatively long-standing company. While it is certainly unfortunate that they have fallen victim to a fraud, at this point there really is little that anyone can do. This is especially true in the current economy, which makes it difficult to invest in stocks or bonds.
The Steins are asking for millions of dollars in compensation for their loss. The actual amount that they are asking for is unknown at this time. There are indications that they are asking for more than one million dollars, although this has not been confirmed. A representative for the company has told the press that they will be filing the diamond’s lawsuit against their distributors. The suit will attempt to gain damages for mental and emotional pain and suffering.
Diamonds are expensive, and this type of incident can certainly have an effect on a family’s budget.
Being forced to pay out thousands of dollars due to fraudulent diamonds is not something that any family would wish to have to deal with. Even though the Steins are one of the best-known diamond companies in the world, this doesn’t mean that every diamond company is safe from having their name or products brought into the public eye through a fraudulent action. This is why it is so important to make sure that you purchase your diamond from a reputable source.
There have been many instances in which the alleged owners of a diamond were found to be involved in fraudulent activity involving diamonds. It is important to remember that these cases occur quite often. In many of these cases, the alleged diamonds were sold at prices significantly lower than they would actually be sold for or were given far less importance than they should have for a particular piece of jewelry. Steins Solitaire diamond engagement rings are absolutely beautiful pieces of jewelry. However, they can also be susceptible to being damaged by a diamond-tainer.