Real Estate/Development
Mar. 8, 2024
Jurors award $3B in punitive damages to brothers in real estate spat
“The final chapter is far from written,” said attorney Rick L. Richmond. “In addition to eventual appellate review, there are several pending and anticipated trial and post-trial motions that may dramatically alter this verdict.”
A Los Angeles County jury on Thursday awarded $3 billion in punitive damages to three brothers who prevailed in a massive breach-of-contract dispute with another brother over the family’s real estate business raising the estimated value of the verdict to $10 billion.
Plaintiff Shashikant “Shashi” Jogani was awarded $1.5 billion, according to his attorney, Steven R. Friedman of Friedman2 LLP. Shashi’s brothers and cross-complainants, Chetan...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In