Jury Awards Lennar $1B in Defamation, Extortion Case

Law360, New York (December 3, 2013, 8:03 PM EST) -- U.S. homebuilding company Lennar Corp. said Monday a Florida jury had awarded it $1 billion in a case against California developer Nicolas Marsch III and his company, Briarwood Capital LLC, for defaming and extorting money from the company.

The jury awarded the damages after the trial court found that Marsch had conspired with convicted felon Barry Minkow to extort money from Lennar. The $1 billion award includes $200 million in punitive damages in addition to an award of $802 million in damages to repay Lennar for...
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