Four brothers win $7 billion in property dispute with fifth sibling over California apartment buildings

A jury has awarded a $7 billion verdict to four brothers who alleged that a fifth brother misappropriated monetary and real estate assets in violation of an oral family partnership agreement.

Concluding a five-month Los Angeles Superior Court trial, jurors returned the verdict Monday in a long-running lawsuit filed in February 2003.

In total, the jury awarded the four successful brothers $2.5 billion in monetary damages and more than $4.5 billion in property interests, making the award one of the largest in the United States this year, according to the plaintiffs' attorneys.

The case arose from a conflict involving the siblings, all from India, concerning more than 170 apartment buildings incorporating 17,000 units, primarily in the San Fernando Valley.

One of the brothers, Haresh Jogani, is listed on paper as the owner of the buildings. His attorneys maintained than there was no oral partnership as his siblings alleged and that he was the sole owner of the real estate portfolio. But his brothers contended to the contrary and the jury agreed with them, determining that the defendant owed brothers Rajesh Jogani and Chetan Jogani $750 million in damages, plus real estate interests valued at more than $1 billion.

"We are grateful to the jurors for their decision," plaintiffs' attorney Peter Ross said, adding that a "long-standing wrong has been corrected and this brother-against-brother war can come to an end."

The balance of the verdict awarded $4.75 billion to brother Shashikant Jogani and $570 million to brother Shailesh Jogani. The jury also found that brothers Rajesh, Chetan and Shashikant are entitled to punitive damages and a hearing was scheduled Friday.