Retailer Mervis Diamond Importers has won a $5 million settlement from a local US developer after a five-year legal battle, National Jeweler reported.

the jeweler's press release, in 2005 into a leasing agreement with Congressional Hotel Corporation (CHC) for retail space in the Congressional Village Shopping Center, attached to what was then a Ramada Inn in Rockville, Maryland. CHC failed to build out and deliver the space as outlined, leaving Mervis Diamond no choice but to seek legal action.

Mervis sued CHC for compensatory damages and prevailed in a five-day trial. CHC, however, successfully appealed the damages portion of the decision and the case returned to court – and lost.

According to the release, the court awarded Mervis a total of $2.9 million in lost profit damages and CHC also is liable for pre and post-judgment interest, as well as legal fees, making the total amount of the award about $5 million.

"We're extremely pleased with this decision," Zed Mervis, Mervis Diamond Importers President and co-founder, said in the release. "This decision, although so long in coming, fully vindicates our position. We look forward to putting this behind us and focusing on going forward with our core business."