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The owner of the Cleveland Browns and his family is being sued for attempted bribery.
Berkshire Hathaway is countersuing the Haslam family for allegedly attempting to bribe executives in order to inflate profits to force the purchasing company to pay a higher purchase price.
Berkshire Hathaway is owned by billionaire Warren Buffett.
The Haslam family, including Cleveland Browns owner Jimmy Haslam, has already filed a lawsuit against Berkshire, accusing them of underestimating Pilot’s worth in order to pay less for acquiring it.
From FOX 8:
Berkshire initially bought 38.6% of Pilot back then for $2.758 billion before more than doubling that to 80% this year for an additional $8.2 billion. Buffett told Berkshire shareholders this spring that he wishes he could have bought the entire company at once because the price was better in 2017, but the Haslams wouldn’t sell it all then.
To read the entire FOX 8 report CLICK HERE.
This complicated story is far from finished and details are still developing. Check back for udpates.
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Browns Owners Sued For Attempted Bribery was originally published on wzakcleveland.com
