OMAHA, Nebraska — Pilot Corp. has reached a settlement with Berkshire Hathaway Inc., bringing an end to a dispute over the valuation of the truck stop chain founded by Browns owner Jimmy Haslam.
A spokesperson with Pilot released a statement Sunday saying that a deal had been reached on the litigation. The deal lists Pilot Corp, Berkshire Hathaway, Pilot Travel Centers LLC, and National Indemnity Co. and includes the dismissal of all claims and counterclaims.
No details were released Sunday about the settlement. A trial on the dispute was set to begin Monday.
The statement did not say if the settlement will end an investigation by federal prosecutors over whether Haslam gave illegal payments to Pilot executives to boost the value of the company before its sale to Berkshire Hathaway.
In October, the Haslam family filed a lawsuit that Warren Buffett and Berkshire Hathaway were trying to artificially depress the price the company. The lawsuit argued Berkshire was obligated to pay for the family’s remaining 20% stake in the Pilot Travel Centers truck stop chain that Jim Haslam founded.
Berkshire had paid nearly $11 billion since 2017 for the first 80% of Pilot.
Berkshire Hathaway filed a countersuit in November claiming the Haslams tried to bribe at least 15 executives at the Pilot truck stop chain with millions of dollars to get them to inflate the company’s profits in 2023 because that would force Berkshire to pay more for the remaining 20% stake in the company.
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January 08, 2024 at 11:26AM
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Haslams’ Pilot Corp. reaches deal with Berkshire Hathaway - cleveland.com
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