In a latest legal battle, Warren Buffett's Berkshire Hathaway has accused the Haslam family, well-known as the owners of the Cleveland Browns and former Tennessee governor, of attempting to bribe executives at the Pilot truck stop chain. The alleged motive behind the bribery was to inflate Pilot's profits, thereby forcing Berkshire Hathaway to pay more for the Haslams' remaining 20% stake in the company.

Filed as a counter lawsuit, Berkshire Hathaway's claim comes in response to the Haslam family's accusation that the conglomerate had deliberately understated Pilot's earnings through changes in accounting practices. The hearing for Berkshire's counter lawsuit is scheduled for Thursday.

According to court documents, Berkshire Hathaway only became aware of the Haslams' attempts to bribe former executives at the company this month. The offer, allegedly made by Jimmy Haslam, the owner of the Cleveland Browns, promised bonuses to the executives that far exceeded their annual salaries based on the price the Haslam family would receive for their stake. The filing states that the offer was extended to approximately 15 employees at a country club dinner in Knoxville, Tennessee, in March, and repeated to at least four other high-level executives. The former CEO of Pilot also offered under-the-table payments to at least 10 other executives in April.

The exact amount of money at stake remains unclear, as it has been redacted in the legal documents. However, the Haslam family claims their 20% stake in Pilot was worth $3.2 billion prior to Berkshire Hathaway's accounting change.

Berkshire Hathaway's purchase of Pilot began in 2017 when they acquired a 38.6% stake for $2.758 billion. Earlier this year, the conglomerate increased its ownership to 80% for an additional $8.2 billion. The price Berkshire Hathaway will ultimately pay for the remaining stake is determined by a formula based on Pilot's reported earnings, as agreed upon by Buffett and the Haslam family in 2017.

Pilot, the largest network of truck stops in the United States with over 850 locations and 30,000 employees across the U.S. and Canada, has already had a significant impact on Berkshire Hathaway's revenue and profits this year.

The Haslam family contends that Berkshire Hathaway's adoption of "pushdown accounting" led to increased depreciation and amortization costs for Pilot, resulting in lower net income. However, Berkshire Hathaway argues that it is impossible to determine the extent to which Pilot's profits may have been inflated due to the decisions made by executives enticed by promised bonuses. While certain recommendations to boost short-term profits were rejected, Berkshire Hathaway suggests that other decisions may have gone undetected.

Berkshire Hathaway has requested a January trial date to address its claims alongside the Haslam family's initial lawsuit. This trial aims to determine the true value of Pilot and whether the Haslam family can sell their stake in 2024, given the questions surrounding the company's 2023 earnings.

Aside from its ownership of Pilot, Berkshire Hathaway boasts a diverse portfolio of businesses including Geico insurance, BNSF railroad, various major utilities, and several manufacturing and retail enterprises. Additionally, the conglomerate holds substantial stock positions in prominent companies such as Apple, Coca-Cola, American Express, and Bank of America, among others.