When the trial date is set tomorrow was canceledThe message was unambiguous. It’s official now.
The legal battle between billionaires Jimmy Haslam and Warren Buffett’s Berkshire Hathaway over the value of the remaining 20 percent of Pilot Corporation has been settled.
“Pilot Corporation, on behalf of the company and the Haslam family, is pleased to announce that it has reached an agreement to fully settle the Delaware lawsuit between the company, Berkshire Hathaway Inc., Pilot Travel Centers, LLC, and the National Indemnity Company,” a Pilot Corporation spokesperson said in a statement. In doing so, he rejected all claims and counterclaims against each other.”
This means that the battle is over. They reached a decision that both sides considered better than rolling the dice in court. It is very common in civil lawsuits.
It’s even more surprising in this case because things got so ugly, with Buffett’s lawyers insisting that Haslam bribed Pilot executives to inflate the company’s value. However, the feathers tend to calm down once conversations move to a place where each side likes the number.
The only outstanding question is whether the bribery allegations will lead to other potential consequences. Hassan’s lawyers have already acknowledged that federal prosecutors were investigating the situation.