$7B verdict returned in favor of 4 brothers who alleged that 5th brother misappropriated

The law firm representing one of four brothers embroiled in a 20-year “high-stakes legal dispute” with a fifth brother announced that a Los Angeles County Superior Court returned a $7 billion verdict in favor of the prosecuting brothers, who alleged the fifth brother misappropriated assets and violated an oral family partnership agreement. 

According to a release from Ross LLP, a boutique litigation and trial firm that was one of three representing the brothers, the jury awarded the four siblings $2.5 billion in monetary damages and more than $4.5 billion in property interests. 

“The case arises out of a dispute between five brothers from India about more than 170 apartment buildings incorporating 17,000 units primarily in the San Fernando Valley region of Los Angeles,” Ross LLP said. 

The five brothers were identified as Haresh Jogani, Rajesh Jogani, Chetan Jogani, Shashikant Jogani and Shailesh Jogani in the law firm’s release.  

“One of the brothers, Haresh Jogani, is listed on paper as the owner of the properties,” Ross LLP said. “The other four brothers asserted that…Haresh was holding the properties on behalf of an oral family partnership.” 

The jury sided with the four brothers after a five-month trial and found that Haresh Jogani owes two of his brothers – Rajesh and Chetan – $750 million in damages plus real estate interests valued at more than $1 billion. 

“We are grateful to the jurors for their decision,” said attorney Peter Ross, who represented Rajesh and Chetan Jogani. “Thanks to them, a long-standing wrong has been corrected, and this brother-against-brother war can come to an end.” 

Shashikant Jogani, who was represented by another law firm, received the biggest payout; the jury awarded him $4.75 billion, and the fifth brother, Shailesh, received $570 million. 

The jury also found that prevailing brothers Rajesh, Chetan and Shashikant are entitled to punitive damages. The hearing regarding the punitive damages will take place on Friday. 

This article was originally published by a ktla.com . Read the Original article here. .