Billionaire Legal Battle Called Off
A highly anticipated legal battle between two billionaires over the value of Pilot Corporation has been cancelled, as reported by Reuters. The trial, originally scheduled for Monday, would have determined the value of the remaining 20 percent of the corporation.
The dispute, which had become increasingly contentious, seemed to have been informally resolved, leading to the cancellation of the trial. The two parties involved in the lawsuit are Browns owner Jimmy Haslam and billionaire Warren Buffett.
The conflict had escalated with Buffett’s representatives accusing Haslam of offering bribes to Pilot executives in order to artificially inflate the value of the company and, consequently, the price of the remaining 20 percent. Haslam vehemently denied the allegations.
In a surprising twist, it was revealed that federal prosecutors were looking into the bribery claims. However, with the cancellation of the trial, it is likely that a settlement was reached that resolved the issue.
The resolution of the dispute has put an end to what promised to be a heated legal battle, and it appears that the parties involved were able to come to an agreement outside of the courtroom.