Berkshire Hathaway settles valuation dispute with Pilot

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Warren Buffett's Berkshire Hathaway and Pilot on Sunday said they had reached an agreement to settle a Delaware lawsuit and resolve a dispute over the valuation of billionaire Jimmy Haslam's truck stop chain.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

08 Jan 2024

Berkshire and Pilot have agreed to settle the Delaware litigation, including all claims and counterclaims, between Pilot and Berkshire Hathaway, Pilot Travel Centers and National Indemnity Company, the companies said in separate statements.

Pilot declined to disclose further detail on the settlement. Berkshire Hathaway did not immediately respond to a request for comment.

The agreement averts a billion-dollar trial between Berkshire Hathaway and the Haslam family, which had been set to begin on Monday.

The two-day, non-jury trial in Delaware's Court of Chancery, which was cancelled by the court on Saturday, was meant to determine the value of the Haslam family's remaining 20% stake in Pilot Travel Centers, the largest U.S. truck stop chain.

The Haslams, including Cleveland Browns football team owner Jimmy Haslam, sold 80% of Pilot to