The price of resolution for Pilot Flying J has nearly doubled.
According to The Tennessean, a proposed settlement of rebate claims has jumped from $40 million to nearly three quarters of a billion dollars.
In a 400-page suit, attorneys for Pilot Flying J say a proposed $72 million settlement is an “extraordinarily good settlement” and that the fraud victims “would never receive any greater benefit,” The Tennessean reported.
The settlement includes $55 million for reimbursement, plus $4.1 million of interest. The remaining balance would go to legal fees the victims have incurred.
A hearing on the proposal is scheduled for November 25.
Pilot Flying J CEO Jimmy Haslam has vowed to pay back “every dime” that companies and drivers were shorted.
The motion filed this week in Little Rock states that truckers will “receive back every dime that they were shortchanged.”
To date, more than 55 entities have opted out of setting with Pilot Flying J.
To read more about the proposed settlement, follow this link to The Tennessean.