Sotheby’s created an Instagram filter for the crown, estimated to sell for up to $1.5 million.
One lawsuit over EGL reports is settled
One of the lawsuits filed by consumers against Nashville jeweler Genesis Diamonds for selling diamonds allegedly over-graded by EGL International has been settled while three others remain open.
Nashville, Tenn.--One of the lawsuits filed by consumers against Nashville jeweler Genesis Diamonds for selling diamonds allegedly over-graded by EGL International has been settled while three others remain open.
Filed in Davidson County (Tenn.) Circuit Court in July by James Wells, a/k/a James Wills, the lawsuit accused Genesis Diamonds of fraud and violating Tennessee’s Consumer Protection Act for selling a diamond with an EGL International report that stated it was G color, VS2 clarity that later was deemed by the Gemological Institute of America to be a J color, SI2 worth about half of what he originally was led to believe.
Attorney Eli Richardson, who represents Genesis Diamonds, said Monday that the case had been settled on terms that are “mutually satisfactory to the parties.” He declined to provide further details.
Davidson County Circuit Court records show that suits making the same allegations against Genesis Diamonds filed by M. Nathaniel Averitt (August), Richard Vien (August) and Allan (A.J.) Zyla Jr. are outstanding. All three are represented by the same attorney, Nashville-based Brian Cummings.
Richardson said they are “confident” the remaining suits will be “resolved favorably for Genesis Diamonds.”
Brian Manookian, who represented Wells, did not return a call for comment Monday on the decision.
The Nashville-based attorney once sued Genesis Diamonds himself after buying a diamond there, eventually settling the case, and has erected a website called GenesisDiamondsLawsuit.com on which consumers can contact him about possibly taking legal action against the retailer.
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