Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019.
Berkshire owns 80% of Pilot, having paid the Haslams $2.76 billion for a 38.6% stake in 2017 and $8.2 billion for another 41.4% in January.
The Haslams sued Omaha, Nebraska-based Berkshire in October, accusing it of seeking a "windfall" by adopting "pushdown" accounting for Pilot.
Berkshire countersued on Nov. 28, saying Jimmy Haslam tried to bribe Pilot executives with millions of dollars to inflate earnings in 2023 at the expense of future years.
According to court papers, the Haslams believe the 20% Pilot stake was worth $3.2 billion before Berkshire's accounting change, an amount Berkshire disputes.
Persons:
Warren Buffett, Scott Morgan, Warren Buffett's Berkshire Hathaway, Jimmy Haslam, Chancellor Morgan Zurn, Haslam, Zurn, Berkshire, Berkshire countersued, Tom Hals, David Holmes
Organizations:
Berkshire Hathaway, REUTERS, Rights, Travel Centers, Cleveland Browns, Berkshire, Pilot, Thomson
Locations:
Omaha , Nebraska, U.S, Rights WILMINGTON , Delaware, Delaware, Delaware's, Berkshire, Knoxville , Tennessee, Wilmington , Delaware