Berkshire Hathaway Faces January Trial Over Pilot Travel Sale
- Haslam family says move may cause $1.2 billion in damages
- Haslam family weighing sale of 20% stake in chain to Buffett
A Pilot Travel Centers LLC Flying J gas station in Waddy, Kentucky.
Photographer: Luke Sharrett/BloombergWarren Buffett’s Berkshire Hathaway faces a January trial over allegations it broke the terms of a more than $10 billion acquisition of truck-stop chain Pilot Travel Centers by changing the accounting methods used to value part of the deal.
Delaware Chancery Court Judge Morgan Zurn fast tracked the case at a hearing Friday, setting up a trial early next year over claims by Jimmy Haslam, a part Pilot owner, that accounting changes could could knock as much as $1.2 billion in value off the final 20% of the company that’s up for sale.