Haslam family suing Warren Buffett's Berkshire Hathaway

The billionaire Haslam family says in a lawsuit that Warren Buffett and Berkshire Hathaway are trying to artificially depress the price the company is obligated to pay for the family's remaining 20% stake in the Pilot Travel Centers truck stop chain that Jim Haslam founded. Berkshire has paid nearly $11 billion since 2017 for the first 80% of Pilot. Berkshire changed the accounting practices at Pilot this year after it acquired control of the company. The lawsuit that was unsealed Thursday said that change is artificially depressing Pilot's reported earnings, which are used to set the purchase price Berkshire agreed to pay in 2017. “Berkshire is intent on using the accounting change to justify grossly underpaying Pilot (the Haslam family) for its 20% interest," the lawsuit said. The Haslam family, which includes Cleveland Browns owner Jimmy Haslam and former Tennessee Gov. Bill Haslam, declined to comment beyond the lawsuit. READ MORE: https://www.wkyc.com/article/money/bu... -- At 3News, we’re not here to tell you the news, we’re here to share the stories that you say matter most to you. Share your ideas, thoughts, concerns and engage in conversations about the communities in which we all call home. Follow 3News on Social: Facebook:   /      Twitter:   / wkyc     Instagram:   /      Visit our site: https://www.wkyc.com/ And be sure to download our app here: https://wkyc.com/app