Berkshire Countersues Haslam Family Over Pilot Chain Sale Price
Warren Buffett’s Berkshire Hathaway says the billionaire Haslam family 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 this year because that would force Berkshire to pay more for the Haslams’ remaining 20% stake in the company. Last month, the Haslam family, which includes Cleveland Browns owner Jimmy Haslam and former Tennessee governor Bill Haslam, accused Berkshire of trying to understate Pilot’s earnings this year by changing its accounting practices. A hearing on Berkshire’s counter lawsuit is planned for Thursday. Pilot's earnings will be used to determine how much Berkshire will pay whenever the Haslams decide to sell their remaining stake. An attorney for the billionaire Haslam family has called the bribery allegations from Warren Buffett’s company a “wild invention." But a judge didn’t decide immediately whether those allegations will be resolved at a January trial.