EGL ASIA Is Not the Subject of Forthcoming Class-Action Lawsuit —

Retailers Will Not Be Targeted for Selling Diamonds with EGL ASIA Reports

 

New York, NY— December 18, 2014 — In response to National Jeweler's report that a class-action lawsuit will charge EGL International with systematically overgrading diamonds and “major retailers” for knowingly selling those diamonds, EGL ASIA and an attorney in the case have reiterated that this lawsuit is completely unrelated to EGL ASIA and EGL ASIA gemological reports.

 

Mitch Jakubovic, director of EGL ASIA said, “Recently, National Jeweler published an article announcing that a lawsuit will be filed against EGL International and some 'major retailers.' Like all news about EGL International, this announcement has nothing to do with EGL ASIA. It also has nothing to do with EGL ASIA reports. Retailers will not be targeted for selling diamonds with EGL ASIA reports.”

 

Jakubovic continued, “There is no connection between EGL ASIA and EGL International, or between EGL ASIA and any other EGL overseas entity. EGL ASIA is a completely different company with a completely different character. We are committed to safeguarding our legacy of nearly four decades of exceptional gemological analyses. And we will continue to protect our reputation and the interests of our customers.”

 

Brian Cummings, Esq., co-counsel for the plaintiffs against EGL International, reinforced the facts, “EGL ASIA is absolutely not part of the forthcoming class-action suit against EGL International. On the contrary, from our research EGL ASIA has a strong reputation in the diamond and gemstone industry, and from a legal standpoint has done everything possible to distance itself from EGL International. It would be grossly unfair for anyone to confuse the two laboratories or their reports. They are completely distinct.”

 

 

EGL ASIA Responds to Turmoil in EGL International Network

 

New York, NY — December 5, 2014 — In response to announcements of EGL International's closing and the reorganization of the overseas EGL network, Yaakov Tversky, director of EGL ASIA, released the following statement.

 

“Recently, EGL's overseas laboratories announced plans to close and/or reorganize. This is a big news story. But it has nothing to do with EGL ASIA. We are not part of EGL International or any other EGL overseas entities, and we will never be part of their proposed network.

 

“We are not them.

 

“EGL ASIA supports genuine gemology — GIA grading standards applied by GIA- and FGA-trained gemologists using GIA-graded master stones and state-of-the-art equipment.

 

“Flights of fancy like ‘face-up grading' and made-to-order standards have no place in gemology.

 

“Simply put, the tactics of EGL International and its network have hurt our industry. And EGL ASIA has been fighting against these tactics and these labs for over a decade. We have done this in federal court, the US Patent and Trademark Office, the Bureau of Customs and Border Protection, and even the press. But, more importantly, we have done this by providing hundreds of thousands of accurate, consistent gemological reports for nearly 40 years.

 

“The only thing that EGL ASIA is announcing this week is our continuing commitment to exceptional gemological science and service. For EGL ASIA, that's business as usual.”

 

 

EGL ASIA to Introduce a Free Diamond Trading Platform

 

Los Angeles, CA — November 20, 2014 — EGL ASIA today announced the development of a new, independent, and complimentary trading platform for the diamond industry. The platform is in final testing stages and expected to launch shortly. EGL ASIA initiated and sponsored the site, to serve the needs of the entire North American diamond industry. A leading interactive firm specializing in software development and creative media will handle day-to-day operations directly.

 

The platform will offer basic inventory data on certified diamonds from all major labs. The site will provide posting and browsing capability, enabling wholesalers, dealers, and jewelers to contact one another and do business directly. Platform members will be invited to register an unlimited number of users on each of their accounts. The site, initially operating in beta format, will introduce additional features over time.

 

“The new platform will be free, open, and independent, said Yaakov Tversky, director of EGL ASIA. “And it will provide an immediate, no-cost solution for our business partners, who were unfairly displaced by RapNet. We look forward to seeing the site grow into a full-fledged resource that will support the success of our customers, as well as the industry at large.”

 

 

EGL ASIA Responds to Pending Removal from Rapnet List —

Lab's Commitment to Exceptional Science, Service, and Customers Remains Unchanged

 

New York, NY — September 16, 2014 — In response to the pending removal of EGL ASIA from the Rapnet list, Mitch Jakubovic, director of EGL ASIA, released the following statement.

 

“Recently, Rapnet announced its intention to remove EGL ASIA from its trading platform, along with other E.G.L.-named laboratories. We remained publicly silent, while meetings were ongoing. Unfortunately, Martin Rapaport remains committed to this new policy. EGL ASIA, in turn, remains committed to delivering exceptional gemological science and service to its customers.

 

“EGL ASIA is a highly regarded, independent gemological laboratory. In particular, the lab's GIA- and FGA-trained gemologists are recognized for consistent grading and significant achievements in gemological research.

 

“EGL ASIA is in no way affiliated with any E.G.L.-named laboratories outside of North America. In fact, as the sole owner of the trademark in the United States, EGL ASIA is the only E.G.L. lab with the legal right to issue gemological reports here.

 

“To protect this right, EGL ASIA brought trademark infringement and false advertising claims against the E.G.L labs outside of North America, for both their inflated grading practices and improper use of the E.G.L. name in the U.S. These legal actions reinforce an existing customs border ban on their reports, established over a decade ago.

 

“Our customers know all of this. And Rapaport knows it, too. Rapaport reported on the ban when it was initiated. And Rapaport consistently distinguished EGL ASIA — in advertisements, industry events, listings, and surveys. Just last year, Rapaport verified the quality of EGL ASIA analyses as comparable to top tier labs, such as GIA. We earned this recognition. Moreover, we expect an industry leader and standard-bearer, like Rapaport, to always present our lab — and all other labs — clearly and fairly.

 

“Instead, in its recent press release, Rapaport referenced EGL ASIA as part of 'EGL' and 'European Gemological Laboratories' and associated our lab with language including 'the misrepresentation of diamond quality' and 'over-grading of diamonds.' None of this is accurate.

 

“Simply put, the delisting of EGL ASIA penalizes us for our name alone. And while that is a great disservice to EGL ASIA, it is an even greater disservice to our customers and the industry-at-large.

 

“We are very grateful for the tremendous support of our customers, particularly those who spoke loudly and publicly on our behalf. We will return the favor, announcing updated trading platform plans shortly.”

 

 

EGL ASIA Announces “Envira Reports™” for Environmentally Friendly Gems and Jewelry

 

New York, NY — May 29, 2013 — EGL ASIA Gemological Laboratory announced today the availability of Envira Diamond™ and Envira Colored Gemstone Reports™ for environmentally-friendly gems and jewelry. These reports combine the classic elements of EGL ASIA gemological reports with a modern commitment to social and environmental responsibility.

 

The Envira Diamond Report™ verifies carat weight, clarity grade, color grade, and cut (shape and style), and sustainable origin. The Envira Colored Gemstone Report™ verifies carat weight, color, cut (shape and style), fluorescence, gemstone identification, measurements, and sustainable origin. Both reports are available for stones or jewelry that meet specific environmentally-friendly criteria.

 

Envira Reports™ are presented in covers printed on responsibly sourced paper stock, with Forest Stewardship Council (FSC)-certified recycled fiber content.

 

“Sustainably-sourced gems and jewelry are an important part of today's market, said Mitch Jakubovic, director of EGL ASIA. “From heirloom and reclaimed items, to newly mined pieces that are conflict-free and ethically-sourced, these treasures have more than just beauty. They have unique stories to tell. And EGL ASIA's Envira Reports™ can confirm the facts that bring those stories to life.”

 

 

EGL ASIA to Officially Re-Launch Website at JCK Las Vegas

 

Las Vegas, NV — May 29, 2013 — EGL ASIA Gemological Laboratory announced today the upcoming re-launch of its website: www.egl-asia.com. The site will feature an enhanced online presence and extensive customer and consumer resources. The site will premiere via ongoing demonstrations May 31–June 3, 2013, at EGL ASIA's JCK Las Vegas booth #B3553.

 

Phase One of the site roll-out will introduce easy-to-use customer-based tools that expedite key services. Customers will be able to verify reports, access and apply for accounts, and prepare to submit stones — at any time, from anywhere. The site will also include comprehensive information on available lab reports and services.

 

Retailers and consumers will also find customized resources. A particular highlight is EGL ASIA's collection of gemological glossaries. These user-friendly pages feature hundreds of gemological definitions, photos, and illustrations. A related section contains helpful guides for how to choose diamonds, colored gemstones, and pearls. Additional site features will be implemented on an ongoing basis.

 

“The new site is designed with all of our customers in mind,” said Mitch Jakubovic, director of EGL ASIA. “It will provide convenient day-to-day support for current customers, while introducing new audiences to important information about gemstones and gemological reports. It's truly a one-stop resource for online science and service.”

 

 

Iris on the Move®  N-Glance™ Identification System Secures Access to EGL ASIA

 

New York, NY — March 28, 2012 — SRI International Sarnoff's Iris on the Move®  (IOM)
N-Glance™ identification system is protecting EGL ASIA by confirming the identity of authorized employees as they enter the laboratory. EGL ASIA's New York location is the first gemological lab to use this type of identification system for security purposes.

 

“Security is a critical part of our business. The N-Glance system enables us to control access to our lab in a reliable, practical way,” said Mitch Jakubovic, director of EGL ASIA. “We plan to implement the system at other EGL ASIA lab locations.”

 

According to the US Government Accountability Office, iris recognition is about eight times more accurate than fingerprints with respect to false acceptance rates. SRI's system is unobtrusive and safe to the human eye. Users simply glance at the system from a comfortable distance.
The system confirms identity (or not) in less than a second.