A significant legal battle spanning two decades between four brothers and a fifth sibling has culminated in a landmark verdict favoring the prosecuting brothers, as announced by the law firm representing one of the disputing parties.
Ross LLP, a boutique litigation and trial firm among the legal representatives of the brothers, disclosed that the Los Angeles County Superior Court rendered a verdict amounting to $7 billion in favor of the prosecuting siblings. The lawsuit alleged misappropriation of assets and violation of an oral family partnership agreement by the fifth brother.
According to the statement released by Ross LLP, the jury’s decision awarded the four siblings $2.5 billion in monetary damages along with property interests exceeding $4.5 billion. The dispute originated from disagreements among five brothers from India concerning a substantial portfolio comprising over 170 apartment buildings, encompassing approximately 17,000 units primarily situated in the San Fernando Valley region of Los Angeles.
The brothers involved in the litigation were identified as Haresh Jogani, Rajesh Jogani, Chetan Jogani, Shashikant Jogani, and Shailesh Jogani, as indicated by the law firm’s announcement. The legal contention centered around Haresh Jogani, officially listed as the properties’ owner, with the other four siblings contending that Haresh held the assets on behalf of an informal family partnership.
Following an extensive five-month trial, the jury sided with the four prosecuting brothers, ruling in their favor. Specifically, Haresh Jogani was found liable for significant damages to his brothers Rajesh and Chetan, totaling $750 million in monetary compensation, coupled with real estate assets valued at over $1 billion.
Expressing gratitude to the jurors for their decisive verdict, attorney Peter Ross, representing Rajesh and Chetan Jogani, emphasized the resolution of a longstanding dispute and the potential for reconciliation among the siblings. Meanwhile, Shashikant Jogani, represented by another legal team, received the most substantial payout from the jury, amounting to $4.75 billion, with the fifth brother, Shailesh, receiving $570 million in damages.
Additionally, the jury determined that the prevailing brothers Rajesh, Chetan, and Shashikant are entitled to punitive damages, with a hearing scheduled to address these punitive measures on Friday. The outcome of this high-stakes legal battle marks a significant milestone in the resolution of the protracted familial conflict.