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FOR THE RECORD
[HOME EDITION]
Los Angeles Times - Los Angeles, Calif.
Date: Nov 4, 2006
Start Page: A.2
Section: Main News; Part A; National Desk
Text Word Count: 474
 Abstract (Document Summary)

The article said De Beers was banned from operating in the U.S. for a decade because of antitrust violations, a reference that erroneously combined two 1994 legal challenges: The company was never banned but says its executives chose not to travel to the U.S. after a 1994 indictment charging De Beers and General Electric with industrial diamond price-fixing. De Beers pleaded guilty in 2004 and was sentenced to pay a $10-million criminal fine. Also, De Beers was accused of violating antitrust laws in a group of class-action lawsuits in 1994 that alleged U.S. consumers overpaid for diamonds; it settled those lawsuits for $250 million in 2005 without admitting liability.

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