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Lawsuit Alleges Skullduggery From Berkshire In Pilot Purchase

A truck stop near Hesperia, Calif. To address a shortage of truck drivers resulting from a mismatch of skills in the labor market, some trucking companies have started free driving schools with the promise of a job upon completion.

The billionaire Haslam family says in a lawsuit that Warren Buffett and Berkshire Hathaway are trying to artificially depress the price the company is obligated to pay for the family’s remaining 20% stake in the Pilot Travel Centers truck stop company after paying nearly $11 billion since 2017 for the first 80% it bought. Berkshire changed the accounting practices at Pilot this year after it acquired control of the company. The lawsuit that was unsealed Thursday said that change is artificially depressing Pilot’s reported earnings, which are used to set the purchase price Berkshire will pay. The lawsuit says Berkshire is trying to take money out of the Haslam family’s pocket. Buffett didn't immediately respond to questions about the dispute.