(Bloomberg) — An obscure 21-year legal feud involving five brothers from India who’ve amassed a fortune in diamonds and Los Angeles real estate burst into public view this week with a multibillion-dollar US verdict that may be among the largest of the decade.
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After a five-month trial, a jury ordered Haresh Jogani to pay his brothers Shashikant, Rajesh, Chetan and Shailesh Jogani more than $2.5 billion in damages and to divide up shares of their Southern California property empire — about 17,000 apartments worth billions more.
The trial, over allegations that Haresh breached a longstanding partnership with his siblings, continues with a punitive damages hearing Monday that could add to the award.
Jogani v. Jogani
The 2003 lawsuit already has been through 18 appeals, generations of attorneys and five judges in Los Angeles Superior Court. It’s drawing…
