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USA: Auditors Approve Pilot Settlement

USA: Auditors Approve Pilot Settlement

External auditors have confirmed that Pilot Flying J's calculations of monies owed to clients under its rebate programme are accurate.

 

The external accounting firm, Horne LLP, was hired by the truck-stop operator to check on the calculations of internal auditors. The company's report on the matter has been filed in court documents. As part of its settlement with a majority of customers, Pilot pledged to pay truckers any rebates owed with an additional 6% interest, and pay for an external audit of the settlement amounts.  In addition to the final $85m settlement, the company faced approximately half a dozen additional suits that have been merged before a Kentucky federal judge.

Payments to customers who accepted the settlement totaled $68.7m, including $9.6m in interest payments, while lawyers representing the firms were paid $14m. 

PetrolWorld 27062014

 

Last modified onThursday, 26 June 2014 22:02
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