Berkshire Hathaway and Pilot Corp. Settle Lawsuit

Haslam Family to Decide on Selling Remaining Stake in Pilot Travel Centers

Berkshire Hathaway and Pilot Corp. have settled a high-stakes lawsuit over accounting practices at Pilot Travel Centers LLC.
The Haslam family, owners of Pilot Corp., must now decide whether to sell their remaining 20% stake in Pilot Travel Centers to Berkshire Hathaway.
Berkshire Hathaway purchased an initial 38.6% stake in Pilot Travel Centers in 2017 for $2.76 billion, and took control of the company by acquiring an additional 41.4% interest in January 2023.
The 2017 agreements gave Pilot Corp. an annual 60-day opportunity, beginning Jan. 1 this year, to sell its remaining 20% interest in Pilot Travel Centers to Berkshire Hathaway.
Federal prosecutors have begun an investigation based on Berkshire Hathaway's allegations that the Haslam family tried to bribe employees at the Pilot truck stop chain to inflate the company’s value.